By Sumavaya Iqbal 
Elon Musk, Tesla’s CEO and the face of innovation in technology, has achieved an unprecedented financial milestone with a net worth of $348 billion. This remarkable figure cements his place as the wealthiest individual ever, according to Bloomberg Billionaires Index.
Tesla’s Meteoric Rise
The surge in Musk’s wealth is tied to the impressive rally of Tesla’s stock. Following Donald Trump’s electoral victory, the company’s shares soared by 40%, reflecting Wall Street’s optimism about deregulation under the new administration. The stock reached a three-year high of $352.56 on Friday, contributing $7 billion to Musk’s net worth.
Influence Beyond Tesla
Musk’s wealth is not solely derived from Tesla. His 60% ownership of xAI, an artificial intelligence firm valued at $50 billion, added $13 billion. Additionally, his 42% stake in SpaceX, recently valued at $210 billion, contributed another $88 billion. With SpaceX’s anticipated valuation increase to $250 billion, Musk’s fortune is set to grow even further.
Strategic Alliances and Investor Confidence
Musk’s endorsement of Trump and a substantial $100 million campaign donation have strengthened his ties with the administration. His role as chair of the “Department of Government Efficiency” (DOGE) has further boosted investor confidence, especially regarding Tesla’s Full Self-Driving technology, which has faced regulatory scrutiny.
Record-Breaking Wealth Gap
Musk’s net worth places him $80 billion ahead of the second-richest individual, Larry Ellison of Oracle, who holds $235 billion. Despite this monumental achievement, Tesla shares remain 14% below their all-time high from 2021, hinting at even more potential for Musk’s financial dominance.