Elon Musk's fortune reaches a historic high: What is known

According to the Bloomberg Billionaires Index, the latest sale of SpaceX shares increased Musk's wealth by $50 billion, bringing his total fortune to $439.2 billion.

The businessman's wealth has grown significantly since late 2022. However, it surged particularly rapidly after Donald Trump's victory in last month's US presidential election, as Musk became one of Trump's most prominent political donors and supporters. During that period, his wealth increased by 66%.

Shares of Tesla Inc. have risen by about 65% compared to the pre-election period, driven by expectations that Trump would accelerate the deployment of autonomous vehicles and abolish tax incentives for electric vehicles that benefit Tesla's competitors.

Meanwhile, the value of his artificial intelligence startup xAI more than doubled, reaching $50 billion, a surge also attributed to Trump's election victory.

According to Bloomberg, SpaceX and its investors have agreed to purchase shares worth $1.25 billion. This deal, which values the space exploration company at approximately $350 billion, makes SpaceX the most valuable private startup in the world.

It is noted that the company earns most of its revenue from US government contracts and is likely to receive greater support under the Trump administration. The newly elected president praised Musk's vision of sending astronauts to Mars in his campaign speeches and joined Musk at a SpaceX launch in Texas shortly after the election.

Elon Musk's wealth

At the end of November, we reported that Elon Musk's wealth had reached a record $347.8 billion, surpassing his previous record set in November 2021, when the Tesla founder's fortune exceeded $340 billion.

Moreover, next year, Musk is expected to head one of the departments in the administration of newly elected US President Donald Trump.