Tesla CEO Musk's net worth hit a record high of $347.8 billion on Friday.
According to the Bloomberg Billionaires Index, Musk is currently the richest person in the world, with a net worth exceeding the historic high of $340.4 billion set in November 2021. Since the day before the U.S. election, his wealth has grown by 35%, with more than two-thirds coming from Tesla stock and options.
This is due to the continuous rise in Tesla's stock price and the new round of financing for his artificial intelligence startup xAI, which has reached a valuation of $50 billion.
Since Trump was elected president, the value of Musk's various business projects has soared, making him a regular under the political spotlight, with some calling him Trump's 'first friend.'
On Friday, Tesla shares rose 3.8% to $352.56, marking a new closing high since the first half of 2022, reflecting the market's continued optimistic sentiment regarding the Trump team's plans to promote autonomous vehicles and electric vehicle subsidies, which could give Musk's company a competitive advantage over its peers. Since the day before the election on November 4, the stock has accumulated a 45% increase, adding about $350 billion to its market capitalization.
At the same time, xAI's valuation has doubled since its last funding round in May. Additionally, Trump attended Musk's SpaceX launch event this Wednesday. The company is discussing a round of private equity sales, which is expected to push its valuation above $250 billion. The 53-year-old Musk allied with Trump in the final stage of the campaign, campaigning with him in key swing states and personally donating more than $170 million to the political action committee (PAC) supporting the Republican candidate.
After a successful campaign, Musk and others will jointly lead a newly established Department of Government Efficiency, with Musk stating that he will use this department to cut down on bureaucracy and regulation. Current federal policies allow Tesla and other automakers to deploy only 2,500 fully autonomous vehicles each year. In Tesla's most recent earnings call, Musk complained that scattered state-level regulations (such as in California) limited the company's ability to scale its autonomous driving technology.
On Monday, members of Trump's transition team informed advisors that they plan to establish a federal framework for autonomous vehicles as one of the priorities for the Department of Transportation, which could facilitate the broader deployment of cars that do not require human control. This is undoubtedly a boon for Tesla, as promoting such cars and trucks is central to its future strategy. Musk has stated that the cost of Tesla's robot taxi (Cybercab) without a steering wheel and pedals could be less than $30,000 and 'may' begin production in 2026.#BabyMarvinf9c7值得拥🈶 
