November 23, 2024

Elon Musk has become the world’s richest man in history! Tesla CEO’s net worth jumps to $348 billion

Abiola Olawale

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Elon Musk has become the world’s richest man in history! Tesla CEO’s net worth jumps to $348 billion.

According to the Bloomberg Billionaires Index, as of November 23, 2024, Elon Musk’s total net worth is $348 billion.

Elon Musk’s net worth has reached an unprecedented $348 billion, solidifying his position as the world’s richest person.

Tesla’s stock surge following Donald Trump’s election win, coupled with the soaring valuation of Musk’s AI company, xAI, contributed significantly to his wealth surge.

Elon Musk, the CEO of Tesla, has achieved an unprecedented personal wealth milestone, reaching $348 billion, according to the Bloomberg Billionaires Index. According to reports, with this Elon Musk has become the world’s richest man ever! Elon Musk’s wealth saw substantial growth following Tesla’s share price increase, which coincided with Donald Trump’s electoral victory.

According to the Bloomberg Billionaires Index, as of November 23, 2024, Elon Musk’s total net worth is $348 billion, a rise of $119 billion over the last one year.

The valuation of Elon Musk’s generative artificial intelligence company, xAI, has surged to $50 billion, an ET report quoting Wall Street Journal said, adding $13 billion to Musk’s wealth.

Tesla’s share price has increased 40% since the US election day. According to analysts, this surge reflects Wall Street’s optimistic outlook towards Tesla under Trump’s administration, particularly regarding regulations affecting self-driving vehicles.

Elon Musk’s recent support for Trump has strengthened market confidence. Following his endorsement earlier this year, Musk contributed more than $100 million to Trump’s campaign. His appointment as chair of the newly established “Department of Government Efficiency” (DOGE) places him in collaboration with biotech leader Vivek Ramaswamy.

Financial analysts anticipate that the incoming administration’s expected reduction in regulations will benefit Tesla substantially, especially regarding its Full Self-Driving technology, which has previously encountered regulatory challenges.

Credit: India Times

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