Elon Musk Sets New Billionaire Record as Net Worth Hits $348 Billion After Trump Victory

Following Donald Trump’s victory in the just concluded election in the United States, the net worth of Elon Musk jumped to an all-time high of $348 billion on Friday as Tesla’s stock continues to rally and a new funding round valued the billionaire’s artificial intelligence startup xAI at $50 billion.

Elon Musk’s total net worth jumped by $119 billion in 2024 alone while in the last 24 hours, his total net worth increased by $9.24 billion.

The value of Tesla shares grew by 3.8% on Friday on reports that planned subsidies on self-driving cars and electric vehicles will bolster Musk’s company sales.

The stock is now up by 45% or $350 billion since November 4, a day before the election.

Jeff Bezos, the founder of Amazon and numerous other businesses, is the second richest man alive with a combined net worth of $219 billion.

The tech billionaire’s total net worth grew by $41.7 billion while the co-founder of Oracle Larry Ellison came third after his net worth rose by $83 billion to $206 billion in 2024.

Mark Zuckerberg added $70 billion to move to number of Bloomberg billionaire ranking with a total net worth of $198 billion.

Meanwhile, Nigerian Aliko Dangote has moved to 66th as his net worth appreciated by $12.6 billion after Dangote Refinery started operations.