Elon Musk, the world’s wealthiest individual, has seen his fortune soar to an unprecedented $347.8 billion following a dramatic post-election rally in Tesla’s share price.
The surge, reported by the Bloomberg Billionaire Index, surpasses Musk’s previous net worth record of $340 billion set in November 2021, further placing his position atop the billionaire rankings.
Tesla’s stock has been on an upswing since the November 5 election, gaining 40% amid investor optimism about Musk’s perceived influence in the incoming Trump administration.
Shares climbed 3.8% on Friday alone, reflecting market expectations that regulatory rollbacks could benefit Tesla and its ecosystem of innovative ventures.
As Tesla’s largest shareholder, Musk’s wealth has increased by $83 billion in less than three weeks, according to the Bloomberg Billionaires Index.
