Elon Musk, the world’s richest person, saw his net worth reach a record $347.8 billion following the 2024 US presidential election. This surpasses his previous high of $340 billion in November 2021, according to the Bloomberg Billionaires Index.
Tesla shares have surged by about 40% since Election Day, with investors optimistic about Musk’s influence in the Trump administration, which is expected to favour deregulation. As Tesla’s largest shareholder, Musk has gained $83 billion since the election.
Musk has also been appointed, alongside Vivek Ramaswamy, to oversee a new “Department of Government Efficiency (DOGE)” under President-elect Donald Trump. His ventures, including Tesla, SpaceX, and xAI, have benefited from this alliance. Notably, xAI’s valuation has doubled to $50 billion in a recent funding round.
Musk’s fortune now surpasses Amazon founder Jeff Bezos by over $100 billion, cementing his dominance in the billionaire rankings.
