Elon Musk creates history yet again

Tesla, Space X and X owner Elon Musk has created history as he become the richest person ever, Bloomberg Billionaires Index reported Monday.

Elon Musk’s current net worth stands at $348 billion, after a sharp spike witnessed in Tesla’s stock price after Donald Trump’s electoral victory.

Tesla shares was fuelled by Wall Street optimism over the pro-business policies expected under US President-elect Donald Trump, who is known to have close ties with the billionaire entrepreneur.

The stocks saw surge of 40% since Election Day, climbing 3.8% on Friday alone to close at $352.56 — its highest price in over three years.

This added $7 billion to Musk’s fortune, pushing his net worth past the previous high of $320.3 billion – set during Tesla’s pandemic-era surge in November 2021.

Beyond Tesla, Musk’s ventures in artificial intelligence and aerospace have further expanded his wealth. His 60% stake in xAI, a private AI firm valued at $50 billion, added $13 billion to his fortune.

Meanwhile, his 42% stake in SpaceX, valued at $210 billion in a June tender offer, contributed $88 billion.

Speculation around SpaceX’s upcoming funding round, which could value the company at $250 billion, suggests Musk’s net worth might climb even higher, potentially adding $18 billion to his fortune.