Donald Trump

Donald Trump Jr.

Elon Musk

Tesla CEO and tech billionaire Elon Musk is richer than ever, with his net worth soaring to $348 billion, a record high boosted by Donald Trump’s victory in the United States presidential election.
Elon Musk’s net worth hit an all-time high of $347.8 billion by the end of trading on Friday, Nov. 22, propelled by Tesla’s stock (TSLA) rally and a new $50 million funding round valuing his <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/elon-musk-sam-altman-openai-cryptocurrency-ico-plans-court-filing" rel="null" target="null" text="null" title="null">artificial intelligence</a> startup <a data-ct-non-breakable="null" href="https://cointelegraph.com/learn/articles/elon-musks-grok-ai-chatbot" rel="null" target="null" text="null" title="null">xAI</a> at $50 billion.
The previous peak of $335 billion was reached on Nov. 12, with Musk seeing almost a billion dollars per day <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/elon-musk-net-worth-soared-over-20-billion-trump-victory" rel="null" target="null" text="null" title="null">added to his net worth</a> over the past fortnight. Since the beginning of the year, Musk’s net worth has increased by 52%, which equates to a whopping $119 billion, <a data-ct-non-breakable="null" href="https://www.bloomberg.com/billionaires/profiles/elon-r-musk/" rel="null" target="null" text="null" title="null">according</a> to the Bloomberg Billionaires Index.&nbsp;
The entrepreneur is now more than $80 billion richer than the next wealthiest person, his long-time friend and Oracle chairman Larry Ellison, with $235 billion.&nbsp;
<figure>
 <img alt="Tesla, Elon Musk" src="https://s3.cointelegraph.com/uploads/2024-11/0193613f-f22f-73a8-9d0f-f281fdadf211" title="">
 <figcaption style="text-align: center;">
 Elon Musk’s net worth over time. Source: Bloomberg
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Tesla stock climbed 3.8% on Nov. 22 to reach $352.56 by the close of trading. Shares in the electric automaker have almost doubled over the past six months and are now just 15% away from their all-time high of $407 hit three years ago in November 2021, <a data-ct-non-breakable="null" href="https://www.google.com/finance/quote/TSLA:NASDAQ" rel="null" target="null" text="null" title="null">according</a> to Google Finance.&nbsp;
The stock has surged 45% since Nov. 4, the day before the election, adding about $350 billion in market value.
Musk’s fortune comes primarily from his 13% stake in <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/tesla-moves-all-765-million-bitcoin-unknown-wallets" rel="null" target="null" text="null" title="null">Tesla</a>, worth $145 billion, and his 42% stake in SpaceX, which was valued at $210 billion in June.
His net worth may increase by a further $18 billion from SpaceX, which is set to initiate a tender offer round next month valuing the company at more than $250 billion, <a data-ct-non-breakable="null" href="https://www.ft.com/content/342e304b-4c09-4951-8bba-bc9a27ddb726" rel="null" target="null" text="null" title="null">according</a> to reports.&nbsp;
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/trump-elon-musk-vivek-ramaswamy-slash-gov-t-doge" rel="null" target="null" text="null" title="null">Trump taps Elon Musk and Vivek Ramaswamy to slash gov’t with ‘DOGE’</a>
Elon Musk, who also owns microblogging platform <a data-ct-non-breakable="null" href="https://cointelegraph.com/learn/articles/what-is-elon-musks-x-the-everything-app" rel="null" target="null" text="null" title="null">X</a>, recently joked about purchasing left-leaning news outlet MSNBC.&nbsp;
On Nov. 21, Comcast announced that it intends to spin off its cable companies, including MSNBC. Musk asked, “How much does it cost?” on Nov. 23 in response to Donald Trump Jr.’s post <a data-ct-non-breakable="null" href="https://x.com/DonaldJTrumpJr/status/1859957346665103747" rel="null" target="null" text="null" title="null">saying</a>, “I have the funniest idea ever!!!”
“If you buy MSNBC, I would like Rachael Maddow’s job. I will wear the same outfit and glasses, and I will tell the same lies,” quipped Joe Rogan.&nbsp;
<figure>
 <img alt="Tesla, Elon Musk" src="https://s3.cointelegraph.com/uploads/2024-11/01936140-7653-7d34-997f-0984db4ba33d" title="">
 <figcaption style="text-align: center;">
 Source: Donald Trump Jr.&nbsp;
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Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/bitcoin-90k-forecast-crypto-trader-solana-etf-filings-hodlers-digest/" rel="null" target="null" text="null" title="null">Is Bitcoin heading back to $90K? Solana ETFs, and more: Hodler’s Digest</a>

Elon Musk, the world’s richest man, hits record $348B net worth

Cointelegraph

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