Elon Musk is now the richest person in history with his net worth of $348 billion
Elons Musk has made history, becoming the first person in history to reach $348 billion as the richest man in the world. In a monumental increase, he has gained $119 billion, according to Bloomberg's Billionaires Index in one year, due to a massive rise in Tesla's stock prices, his AI company xAI, among other major businesses.
Tesla, an electric vehicle giant under Musk, rose 40% since the US election day since the winning is also seen as a favorable market condition that goes well with the promise of President Donald Trump's administration. Analysts have also marked the regulatory outlook on self-driving cars as another reason for the stock price. Musk’s outspoken support for Trump, including contributing over $100 million to his 2024 campaign, has fueled investor optimism, further boosting his net worth.
Another source of wealth accrual in Musk's life is the meteoric valuation of his generative artificial intelligence company, xAI, now standing at $50 billion. The explosive increase in xAI added a staggering $13 billion to Musk's pocket. The concurrent success of Tesla and xAI, not to mention Musk's other high-profile ventures, solidifies him as the richest person ever.
Beyond Tesla and xAI is his aerospace company, SpaceX. After June's tender offer, SpaceX was valued at $250 billion, and Musk owns 42% worth of $210 billion. SpaceX's potential subsequent rounds could add another $18 billion to Musk's fortune. Other ventures he owns investments in are Neuralink, a neurotechnological company, and X (previously Twitter), the social media site that he owns.
The unprecedented rise of Musk to the pinnacle of the wealth ladder demonstrates the powerful confluence of technology, innovation, and strategic business decisions. As CEO of Tesla and leader of several pathbreaking companies, Musk's touch continues to reshape not only electric vehicles but also space exploration. His wealth trajectory is a testament to being able to transform the imaginings of visionary ideas into profitable enterprises.
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