Elon Musk Increases Wealth to 348 Billion USD Thanks to Tesla and Close Relationship with Trump

Elon Musk, the richest person in the world, has seen his wealth surge to 348 billion USD, primarily due to the success of Tesla and the re-election of Donald Trump. Since the election on November 5th, Musk's wealth has increased by 70 billion USD, as Tesla's stock rose by 40% and the value of the xAI company he founded also surged. Musk's wealth has now surpassed 340 billion USD in 2021, putting him far ahead of Jeff Bezos, the second richest person in the world.

Musk owns 13% of Tesla shares (145 billion USD) and 42% of SpaceX, a company valued at around 210 billion USD. SpaceX plans to raise new capital with a projected value exceeding 250 billion USD, which could increase Musk's wealth by an additional 18 billion USD. Musk's success is also driven by his close relationship with Donald Trump, whom he supported and donated over 100 million USD to the campaign.

Trump's re-election brings significant benefits to Tesla and Musk's companies, especially with expectations of easing regulations in the self-driving vehicle sector. The relationship between Musk and Trump leads investors to believe that Musk will have influence in shaping policies favorable to Tesla, SpaceX, and xAI.

Recently, Musk and billionaire Vivek Ramaswamy have been tasked with leading the "Government Efficiency Department" to cut government operational costs and promote reforms in areas such as artificial intelligence, space, and electric vehicles. Besides work, Musk continues to draw attention with humorous remarks, such as when responding to the idea of Donald Trump Jr. buying MSNBC on social media X.