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.