Elon Musk's Net Worth Soars to $348 Billion, Boosted by Tesla (TSLA) and xAI

Nov 25, 2024

According to the latest Bloomberg Billionaires Index, Tesla CEO Elon Musk's net worth has reached an unprecedented $348 billion. This significant increase is attributed to the surge in Tesla's (TSLA, Financial) stock price and a successful funding round for xAI, Musk's artificial intelligence startup, now valued at $50 billion. This surpasses Musk's previous wealth record of $340.4 billion set in 2021.

Since the beginning of the year, Musk's net worth has increased by $118 billion, outpacing Amazon founder Jeff Bezos by $129 billion. Following the U.S. presidential election, Tesla's stock price soared, closing at $352.56 recently. Musk's personal fortune now exceeds the market value of U.S. cloud computing giant Salesforce, which was approximately $327 billion at the last market close.

The surge in Musk's wealth highlights the growing influence of tech entrepreneurs in the global economy. Tesla and SpaceX, both under Musk's leadership, continue to lead in technological innovation, advancing electric vehicles and space travel. The successful funding of xAI underscores the increasing significance of artificial intelligence across various sectors.

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I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

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