Elon Musk‘s net worth has reached an unprecedented $347.8 billion. This significant increase in wealth is attributed to a surge in the stock of Tesla Inc. TSLA and a successful funding round for his AI startup, xAI.
What Happened: Musk’s wealth has seen a substantial increase due to a 3.8% jump in Tesla stock and a new funding round for xAI, which now values the startup at $50 billion.
This has led to Musk surpassing his previous wealth record of $340.4 billion set in 2021.
The Insider reports that the net worth of the Tesla and SpaceX CEO has increased by an unmatched $117.8 billion this year, placing him over $128 billion ahead of the second richest person, Amazon founder Jeff Bezos. Tesla’s stock has seen a surge following Donald Trump‘s victory in the U.S. presidential election, closing on Friday at $352.56.
Mark Malek, the chief investment officer at Siebert, suggested that the stock’s…
