Elon Musk's fortune has increased by $50 billion since Tuesday

Elon Musk's fortune has surpassed $300 billion for the first time in about three years, driven by a surge in Tesla shares amid expectations that his strong ties to President-elect Donald Trump will boost the company's power and standing.

Musk has added more to his personal wealth than anyone else tracked by the Bloomberg Billionaires Index since Trump's victory.

Tesla shares have jumped 28% since Tuesday's close, boosting Musk's fortune by about $50 billion to $314 billion.

Tesla's market value topped $1 trillion on Friday for the first time since 2022.

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