Elon Musk Becomes Richer Than Ever: $70 Billion Net Worth Jump Post-Trump’s Win

Becomes Richer Than Ever: Elon Musk is officially the richest he’s ever been (and the richest person ever) with a net worth of $334.3 billion, according to Forbes.

The planet’s richest person got even richer as Tesla shares went through the roof after Donald Trump won the US election. Musk was Trump’s biggest supporter during the campaign and even showed up at some of his rallies.

He’s been appointed head of the new “Department of Government Efficiency” (DOGE), where he will work alongside Vivek Ramaswamy.

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According to Forbes, Elon Musk’s net worth was a record $321.7 billion at market close Friday, November 22.

He got a $7 billion boost as Tesla stock went up 3.8% to a new 3.5-year closing high of $352.56 per share, That’s higher than the previous high of $320.3 billion on November 5, 2021, during the pandemic era surge.

Elon Musk's net worth is now $70 billion higher

Musk's net worth is now more than $80 billion richer than the next wealthiest person, his friend and Oracle chairman Larry Ellison at $235 billion.

Musk's fortune comes from his 13% stake in Tesla worth $145 billion, with another 9% equity award in the company pending an appeal in Delaware court (Forbes discounts the value of the award by 50% in its valuation of Musk's wealth.

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Musk’s net worth is $70 billion higher than on Election Day as Tesla stock went up 40% as Wall Street bought into the idea that Trump would be a more friendly regulator for Tesla, especially for its self-driving cars, according to Forbes.

How Elon Musk became the richest person again

Elon Musk’s relationship with President-elect Donald Trump has given investors confidence. Wall Street analysts see the incoming administration’s deregulation as a big advantage for Tesla, especially for Full Self-Driving.

The other big chunk of Musk’s net worth is his 42% stake in SpaceX, which was valued at $210 billion in the June tender offer, his stake in the private aerospace and satellite communications company is $88 billion.

Speculation around SpaceX’s upcoming funding round, which could value the company at $250 billion, suggests his net worth could go even higher, adding $18 billion to his fortune. But there’s still some more to go.

However, despite this record high, there’s still some more to go, as Tesla shares are still 14% below their all-time high from 2021.

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