Elon Musk’s wealth hits new record with post-Trump election windfall
The post-election windfall has seen Elon Musk build a gap of $129 billion over the world’s second richest person, Jeff Bezos.
Tesla billionaire Elon Musk’s net worth has sky-rocketed to $348 billion, cementing his place as the world’s richest human.
According to data provided by the Bloomberg Billionaires Index which is a daily ranking of the world’s richest people, Musk’s wealth grew from $25 billion over the last one week, rising from $313 billion to the current $348 as of November 23, 2024.
This has seen him build a gap of $129 billion over the world’s second richest person.
Jeff Bezos, valued at $219 billion comes in at number 2 with Larry Ellison valued at $206 billion as of November 23, 2024 closing the top three slots.
Elon Musk’s support for Donald Trump & Republicans in US election
According to Bloomberg, Elon Musk flexed his financial muscles in a big way for Republican party in the recent US elections, giving at least $132 million to elect Republicans in 2024.
He was a prominent figure in US President-elect Donald Trump’s campaigns, deploying all resources at his disposal to get the 45th US President win election to become the country’s 47th president.
Musk is the chief executive of Tesla, a company he transformed from a struggling carmaker on the verge of collapse to the world’s most valuable carmaker.
Based in Austin, Texas, the company makes and sells electric vehicles and home solar batteries and commands an enviable market share.
Post-election windfall
Musk has become $83 billion richer since the November 5 election, with shares of Tesla having rallied since the election day.
Buoyed by confidence that Musk’s influence in the Trump administration will usher in a new era of deregulation that will benefit the company, Tesla stock has risen about 40%.
He also owns social networking company X.
READ: Elon Musk’s relationship with daughter & why she is leaving US after Trump’s win
His investments also spread to space exploration, with the billionaire owning SpaceX, a rocket manufacturer.
Space X was recently brought on board by NASA to resupply the space station.
