New Delhi: In an astonishing display of wealth accumulation, Elon Musk, CEO of Tesla, has crossed the unprecedented $300 billion mark, solidifying his status as the world’s wealthiest individual by a significant margin. Following a staggering 30% rise in Tesla shares over the past five days, Musk’s fortune reached an estimated $304 billion as of Friday, a feat driven largely by investor confidence in Tesla’s future under a Trump administration.
Tesla’s Stock Skyrockets Amid Trump’s Victory, Bolstering Musk’s Net Worth
Tesla’s shares surged 8.19% on Friday alone, closing at $321.22 billion in market cap, which catapulted Musk’s net worth by 4.71% in just one day. Before the election results, Musk’s wealth was around $250 billion, but as Tesla’s value increased, so did Musk’s wealth by over $54 billion. His support for Trump’s campaign and active participation in rallies contributed to Tesla’s surge in value as investors anticipate favorable policies for the electric vehicle industry and space technology during Trump’s second term.
Trump’s Historic Return to White House Sparks Market Rally, Major Gains for Billionaires
Donald Trump’s return as the 47th President of the United States after a closely contested race has had a profound impact on the financial sector, especially for leading billionaires like Musk, who endorsed Trump’s economic policies. Trump, in turn, publicly supported several prominent figures during his campaign, including Musk, Jeff Bezos, Oracle’s Larry Ellison, Meta’s Mark Zuckerberg, and Google’s Larry Page. Following Trump’s win, market analysts expect federal policies under his administration to be highly supportive of tech innovation, especially in fields like electric vehicles, AI, and autonomous driving.
Top Billionaires’ Wealth Reaches New Highs, Musk Dominates at $304 Billion
While Musk leads with $304 billion, Oracle’s Larry Ellison trails as the second-richest person with $230.7 billion. Amazon founder Jeff Bezos holds third place at $224.5 billion, followed by Meta’s Mark Zuckerberg at $203.8 billion, and Bernard Arnault and family with a net worth of $165.5 billion. This wealth shift underscores how Trump’s re-election has buoyed confidence in American billionaires who are aligned with sectors that stand to gain under his leadership.
Musk’s Role in Second Trump Administration Gains Influence
In a symbolic gesture of his growing political sway, Musk reportedly joined a call on Friday between President-elect Trump and Ukrainian President Volodymyr Zelenskyy, reflecting Musk’s expanded influence within Trump’s policy circle. Musk’s relationship with the new administration is expected to play a critical role in the regulatory environment for Tesla’s ambitions in autonomous driving. During a recent earnings call, Musk hinted that he would champion a federal regulatory framework for self-driving technology if given a role in Trump’s team, aligning Tesla’s goals with the administration’s technological policy direction.
As Musk continues to shatter wealth records, the world watches closely, with Tesla’s future success intertwined with federal policy and Musk’s rising influence in Washington. With his assets surpassing the $300 billion threshold, Musk not only leads in wealth but also in shaping the trajectory of the tech and automotive industries.
