American billionaire and the richest man in the world Elon Musk has become even richer. Thanks to the continued growth of his Tesla shares and the influx of investments into his AI startup xAI, his fortune has reached $348 billion for the first time in history.
As Bloomberg reports , Musk’s many companies have seen their value skyrocket following Republican Donald Trump’s victory in the US presidential election. The billionaire was one of his most vocal supporters and generous campaign donors.
November 22, shares of the largest worldwide electric car manufacturer Tesla gains 3.7% from Nov 4 (time before election) by 46% , gaining the company’s market value by $350 billion. This reflects the Trump team’s intention to target the development of self-driving cars in the United States. The production of such cars and trucks is a central element of Tesla’s future strategy – according to Musk, the Cybercab robotaxi without a steering wheel and pedals could go into production as early as 2026
Additionally, xAI has more than doubled in value since its last funding round in May, with market analysts citing Trump’s victory as a factor in the new investor interest
.Elon Musk SpaceX
And on November 20, Trump joined Musk for the sixth test of his space company SpaceX, which launched the Starship spacecraft on the Super Heavy rocket. SpaceX is now planning a private sale of shares that could value it at more than $250 billion.
Musk will also co-lead the Trump administration’s new Department of Government Effectiveness (DOGE), which will aim to cut bureaucracy and regulation.
According to the Bloomberg Billionaires Index , Musk has broken his personal wealth record, which stood at $340.4 billion since November 2021 — up 35% from before the election.
Earlier, OBOZ.UA reported that Elon Musk donate $75 million the political action committee America PAC . Through this organization, every American could receive $47 if they encouraged a person in key presidential election states to sign.