According to the latest data from Bloomberg Billionaires Index, the fortune of Tesla founder and CEO Elon Musk has reached a new high - $348 billion. This means his wealth slightly surpasses the previous record from 2021, which was $340.4 billion.
This growth occurred in a short period - since the beginning of the year, Musk’s wealth has increased by as much as $118 billion. Compared to the biggest competitors, Musk currently remains in a significant position, ahead of Amazon founder Jeff Bezos by $129 billion.
What is behind the spectacular rise?
Two main factors are driving the growth of the largest innovator in the tech industry. First, Tesla’s shares have experienced a dramatic rebound - the stock closed last week at $352.56 per share. The rise in the automaker’s stock prices is attributed to the U.S. presidential elections and Donald Trump taking office.
Second, new capital has flowed into xAI - Musk’s artificial startup focused on developing AI systems. A recent funding round valued the company at $50 billion, further strengthening the billionaire’s financial position.
A record worth comparing
It is worth noting that Elon Musk’s wealth now exceeds the market capitalization of cloud solutions giant Salesforce, which was approximately $327 billion at the last close. This perspective shows how enormous the financial power amassed by Tesla’s head has become.
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Elon Musk widens the gap in the billionaire race - wealth exceeds $348 billion
According to the latest data from Bloomberg Billionaires Index, the fortune of Tesla founder and CEO Elon Musk has reached a new high - $348 billion. This means his wealth slightly surpasses the previous record from 2021, which was $340.4 billion.
This growth occurred in a short period - since the beginning of the year, Musk’s wealth has increased by as much as $118 billion. Compared to the biggest competitors, Musk currently remains in a significant position, ahead of Amazon founder Jeff Bezos by $129 billion.
What is behind the spectacular rise?
Two main factors are driving the growth of the largest innovator in the tech industry. First, Tesla’s shares have experienced a dramatic rebound - the stock closed last week at $352.56 per share. The rise in the automaker’s stock prices is attributed to the U.S. presidential elections and Donald Trump taking office.
Second, new capital has flowed into xAI - Musk’s artificial startup focused on developing AI systems. A recent funding round valued the company at $50 billion, further strengthening the billionaire’s financial position.
A record worth comparing
It is worth noting that Elon Musk’s wealth now exceeds the market capitalization of cloud solutions giant Salesforce, which was approximately $327 billion at the last close. This perspective shows how enormous the financial power amassed by Tesla’s head has become.