Elon Musk has become the first individual to attain a net worth exceeding $300 billion, reaching an unprecedented $304 billion, as per Forbes’ latest data. This milestone was driven by a substantial increase in Tesla’s stock, with Musk now the sole member of the $300 billion club.
This remarkable boost in Musk’s fortune came after Tesla’s shares experienced an impressive 30% rise within five days, triggered by Donald Trump’s 2024 U.S. Presidential Election victory. On Friday, Tesla’s stock saw an 8.19% increase, contributing an additional $14 billion to Musk’s already substantial wealth.
Prior to Trump’s election win, Musk had already secured the position of the world’s wealthiest person, holding a net worth close to $250 billion. However, Trump’s victory provided further momentum to Musk’s wealth trajectory. Musk was vocal in his support for Trump during the campaign, frequently attending his rallies. The ensuing optimism from investors around Trump’s victory significantly impacted Tesla’s stock performance.
Musk’s wealth is closely linked to Tesla’s achievements, though his interests extend to other significant ventures like SpaceX, adding to his financial dominance. Currently, Musk leads the global wealth rankings, with Oracle’s Larry Ellison in second place at $230.7 billion, followed by Amazon’s Jeff Bezos, who has an estimated net worth of $224.5 billion.
