Elon Musk, CEO of Tesla, SpaceX, and owner of X (formerly Twitter), has achieved a record-breaking net worth of $348 billion, maintaining his status as the wealthiest individual in the world. His wealth has surged due to Tesla’s rising stock price and a major funding milestone for his AI venture, xAI.
By the end of trading on Nov. 22, Musk’s net worth had climbed to $347.8 billion, propelled by Tesla’s stock closing at $352.56, up 3.8% for the day. This gain follows a $50 million funding round for xAI, which valued the company at $50 billion. Tesla’s stock has soared 45% since Nov. 4, adding $350 billion to its market cap. Musk’s wealth comes from his 13% stake in Tesla, valued at $145 billion, and his 42% ownership of SpaceX, currently valued at $210 billion. Reports suggest SpaceX’s valuation could exceed $250 billion in an upcoming tender offer, adding another $18 billion to Musk’s fortune.
Musk reached his previous wealth peak of $335 billion on Nov. 12, surpassing it by nearly $13 billion in just 10 days. His net worth has grown by 52% in 2024 alone, with a $119 billion increase year-to-date.
Tesla’s market performance has been a significant contributor, with shares nearing their all-time high of $407 from November 2021. Musk’s ventures have a global reach, influencing industries from electric vehicles to space exploration and artificial intelligence.
The stock market rally following Donald Trump’s presidential victory has benefited companies like Tesla, driving optimism among investors. Musk’s continued innovations and leadership in key industries have further bolstered his wealth.
Beyond financial milestones, Musk remains a cultural phenomenon. On Nov. 23, he joked on X about purchasing MSNBC after Comcast’s decision to spin off its cable companies, sparking humorous reactions online, including a quip from Joe Rogan. With his ventures performing at record levels and his influence shaping markets and public conversations, Musk’s remarkable ascent reflects his status as a leading force in technology and business.
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