PANews, November 25, news reported by the Financial界, Tesla CEO Musk's net worth reached a record $347.8 billion on Friday, partly due to the continuous rise in Tesla's stock price, and partly because his artificial intelligence startup xAI's valuation has risen to $50 billion in a new round of financing.
Since Trump was re-elected as President of the United States, Musk has entered the core political circle under the halo of his so-called 'best buddy'. The valuations of many of his companies have also surged. Tesla's stock price rose 3.8% on Friday, reflecting the market's continued optimism that the Trump team's plans for autonomous driving and electric vehicle subsidies will give the company an advantage over its peers. Tesla has risen 45% since November 4, the day before the election, with the company's market value increasing by about $350 billion.
Meanwhile, the valuation of xAI has more than doubled since its financing in May, and Trump's victory has sparked more investor interest. On Wednesday, Trump also watched a SpaceX launch with Musk. Insiders revealed that the company is in preliminary discussions for a directed share issuance, with a valuation expected to rise to about $255 billion. As the world's richest person, Musk's net worth has surged by 35% since the day before the election.