Elon Musk Achieves Unprecedented Wealth, Gaining $70 Billion Post-Election
In less than three weeks following the U.S. presidential election, Elon Musk’s net worth surged nearly 30%. Investors are optimistic that policies under President Trump’s administration will benefit Musk’s companies.
The billionaire’s net worth increased by $70 billion since President-elect Donald Trump’s victory.
Since the November 5 election, Tesla’s stock price has risen by 40%, and the valuation of the artificial intelligence company xAI has doubled, contributing to Musk’s record-breaking wealth growth.
The fact that Musk’s wealth grew by nearly 30% in under three weeks is extraordinary, even for a businessman already renowned for his risky ventures and, more recently, his close ties to President Trump.
According to the Bloomberg Billionaires Index, as of November 26, Elon Musk’s net worth stood at $348 billion, up by over $9 billion in a single day and $119 billion year-to-date.
Investors Expect Policy Benefits for Tesla
President Trump’s return to the White House is anticipated to benefit Tesla, the electric vehicle company where Musk serves as CEO and the largest shareholder. Investors expect regulatory policies to be relaxed in Trump’s next term, particularly concerning Tesla’s self-driving technology.
Additionally, investors believe Musk’s influence on Trump could help advocate for policies advantageous to his businesses.
Key Sources of Musk’s Wealth
A significant portion of Musk’s wealth lies in his 13% stake in Tesla, currently valued at $145 billion. This excludes 9% of Tesla shares held as stock options, which are tied up in an unresolved lawsuit.
Another substantial asset is Musk’s 42% stake in SpaceX. A funding round in June valued the space company at $210 billion, making Musk’s stake worth $88 billion.
Musk also holds stakes in Neuralink (a company linking computers with the human brain), the social media platform X (formerly Twitter), and xAI.
According to the Wall Street Journal, xAI’s valuation has more than doubled to $50 billion in recent weeks, adding $13 billion to Musk’s wealth from his 60% stake.
Next month, SpaceX is expected to undergo another funding round, valuing the company at $250 billion, potentially adding $18 billion to Musk’s wealth.
