Elon Musk’s net worth has soared to a staggering $314 billion after Tesla’s market value surpassed $1 trillion on Friday. This significant increase of $17.4 billion solidifies Musk’s position as the world’s richest person.
Tesla’s stock price surged by 28% over three days, fueled by optimism surrounding the recent election and its potential impact on the electric vehicle industry. On Friday alone, Tesla shares jumped over 10%.
This recent rally has doubled Tesla’s market valuation in just six months, bringing it back to the $1 trillion mark it briefly reached in early 2022. The broader market also rallied in anticipation of potential policy shifts that could benefit major US corporations.
Musk’s wealth is primarily tied to his 13% stake in Tesla, currently valued at approximately $130 billion. An additional 9% stake is currently tied up in a legal dispute.
Despite recent gains, Tesla’s stock price remains about 25% below its peak in late 2021. In recent months, Musk has become increasingly involved in politics, including supporting the re-election campaign of a key political figure with a significant financial contribution. There has also been speculation about Musk’s potential role in a future administration.