Elon Musk’s net worth crosses $348 billion, becomes the world’s richest person again

Elon Musk: Tesla CEO Elon Musk has created another history, taking his total capital i.e. total net worth to 348 billion dollars. With this, he is not only the richest person in the world but he has also got the status of the richest person in history. The rise in Tesla shares and the prices of Musk’s artificial intelligence company AI have led to a tremendous increase in his net worth.

Tesla shares and AI valuation increase wealth

According to the Bloomberg Billionaires Index, by November 23, 2024, the total wealth of the Tesla CEO will reach $348 billion. This increase in wealth has happened due to the increase of 119 billion dollars in the last one year. According to reports, the valuation of xAI has reached $50 billion, which has increased Musk’s wealth by $13 billion. After Donald Trump’s victory in the US presidential elections, Tesla shares increased by 40 percent.

Donald Trump’s support became an important reason

Elon Musk’s support of Donald Trump and contribution of more than $100 million to his presidential campaign has strengthened investors’ trust in Musk and his companies. Let us tell you that Elon Musk has recently been appointed Chairman of the Stable Department of Government Efficiency (DOGE). Here he will work with biotech expert Vivek Ramaswamy.

SpaceX and other investments

SpaceX can add $18 billion to Musk’s wealth. SpaceX is soon planning to raise funding at a valuation of $250 billion. Currently, Musk holds 42 percent stake in SpaceX, which is valued at $ 210 billion after the June 2024 tender offer. Apart from this, Musk also has small investments in neural technology company Neuralink and social media platform X (formerly Twitter).

Wealth will increase further in future

Experts believe that the wealth of Tesla CEO may increase further in the coming time. Possible relaxation in regulatory rules, new projects of SpaceX and increasing influence of xAI will strengthen Musk’s business.

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