Tesla CEO Elon Musk’s net worth increased by more than $50 billion in just a few days, reaching $314 billion, according to Bloomberg.
Fortune noted that “the world’s richest person is getting even richer” after Elon Musk’s net worth surpassed $300 billion for the first time in nearly three years, based on data from the Bloomberg Billionaires Index as of November 9. With $314 billion, Musk remains the world’s richest person, with a lead of $84 billion over the second-richest, Jeff Bezos.
Musk’s wealth surge was largely due to a positive market response to Tesla stock following Donald Trump’s reelection as U.S. President. Tesla shares closed up 14.7% on November 6, reaching their highest point since July 2022. This single trading session added $26.5 billion to Musk’s net worth, bringing his total to $290 billion at that time. After the latest trading session, his wealth grew by an additional $17.4 billion.
This rapid growth came as investors grew optimistic that President-elect Donald Trump’s administration would create a favorable business environment for Musk. For example, Trump has promised to ban self-driving electric cars from China, Tesla’s main competitor in the robotaxi market.
