Elon Musk Earns $70 Billion in 20 Days, Reclaims Top Spot as World’s Richest Person
Elon Musk, the world’s richest person, has seen his wealth soar to unprecedented heights, gaining $70 billion in less than 20 days following Donald Trump’s victory in the U.S. presidential election. According to Bloomberg’s Billionaires Index, Musk’s net worth has now surpassed $340 billion, marking a new milestone in wealth accumulation.
Boost from Tesla and AI Ventures
Musk, the CEO of Tesla and several other high-profile companies, has benefited immensely from Tesla’s skyrocketing stock prices, which rose by 40% since Trump’s win. Additionally, his artificial intelligence company, xAI, has seen its valuation surge, further fueling his wealth.
According to a report by The Wall Street Journal, xAI’s shares more than doubled in value over the past few weeks, reaching a valuation of $50 billion. Musk, who owns 60% of xAI, has solidified his position as a leader in the rapidly growing AI sector.
On Friday, prior to the stock market’s close, Musk’s total net worth was recorded at a staggering $321.7 billion—his highest in over three and a half years. The last time his wealth peaked at similar levels was in November 2021, when it reached $323 billion.
Trump’s Win and Its Economic Impact on Musk
Musk’s support for Trump during the election campaign appears to be paying dividends. Musk openly endorsed Trump and contributed significantly to his campaign. Analysts believe that Trump’s administration will likely create favorable conditions for Tesla, further boosting Musk’s ventures.
Trump has also appointed Musk as the head of a newly established government department, the Department of Government Efficiency, underscoring Musk’s influence on the administration.
A Record-Breaking Achievement
Musk’s recent wealth surge underscores the influence of political outcomes on the financial markets and individual billionaires. His strategic investments in electric vehicles and artificial intelligence have catapulted him to new heights, reaffirming his position as a dominant figure in the global economy.
As Tesla and xAI continue their upward trajectory, Musk’s financial future looks brighter than ever, with analysts predicting further growth under the Trump administration’s policies.
