Author: Martin Young, CoinTelegraph; Translated by: Tao Zhu, Jinse Finance
Tesla CEO and tech billionaire Elon Musk is now richer than ever, with a net worth soaring to $348 billion, setting a new record surpassing Donald Trump's victory in the U.S. presidential election.
As of the end of trading on Friday, Elon Musk's net worth reached a historic high of $347.8 billion. On November 22, fueled by the rise in Tesla stock (TSLA) and a new round of $50 million in funding, the valuation of his AI startup xAI reached $50 billion.
The previous peak was reached on November 12 at $335 billion, and over the past two weeks, Musk's net worth has increased by nearly $1 billion each day. According to the Bloomberg Billionaires Index, Musk's net worth has grown by 52% since the beginning of this year, reaching an astounding $119 billion.
The entrepreneur is now worth over $80 billion more than the second-richest person, his old friend Larry Ellison, the chairman of Oracle, who has a net worth of $235 billion.
Elon Musk's net worth over time. Source: Bloomberg
As of the market close on November 22, Tesla's stock price rose 3.8% to $352.56. According to Google Finance, the electric vehicle manufacturer's stock price has nearly doubled in the past six months and is now just 15% shy of its all-time high of $407 set in November 2021, three years ago.
Since the day before the election on November 4, the stock has surged 45%, adding approximately $350 billion in market value.
Musk's wealth primarily comes from his 13% stake in Tesla, valued at $145 billion, and his 42% stake in SpaceX, which was valued at $210 billion in June.
Reports indicate that SpaceX will launch a round of acquisition offers next month, valuing the company at over $250 billion, potentially increasing Musk's net worth by an additional $18 billion.
Elon Musk, who owns the social media platform X, recently joked about acquiring the left-leaning news outlet MSNBC.
On November 21, Comcast announced plans to spin off its cable company, which includes CNBC and MSNBC, prompting Musk to ask, “How much will this cost?” in response to Donald Trump's Jr. comment, “I have the funniest idea ever!!” and tagging Elon Musk after the news broke.
“If you buy NBC, I want Rachel Maddow's job. I'll wear the same clothes, have the same glasses, and tell the same lies,” joked Joe Rogan.
Source: Donald Trump Jr.