Following Trump's victory, Elon Musk's net worth increased by $70 billion, making him the richest person he has ever been.

Following Trump's victory, Elon Musk's net worth increased by $70 billion to surpass $340 billion. While his AI business, xAI, doubled in value, Tesla's shares shot up 40%.

It seems like Elon Musk is constantly breaking his own records. Following Donald Trump's victory, Musk's net worth increased by $70 billion, making him officially richer than anyone could have imagined—again.

Thanks to his numerous business endeavors and expanding political clout, the billionaire's net worth is increasing, Tesla's stock is surging, and his AI company xAI is taking off. According to the Bloomberg Billionaires Index, he was reported to have a net worth of about $340 billion on November 22.

Elon Musk now has a net worth of $340 billion. after the election
After Trump won the presidency, Elon Musk's fortunes took a significant shift on November 5. The optimism of investors caused Tesla's stock price to soar by 40% in the days after the election.

With a $7 billion gain from Tesla's 3.8% increase, Musk's net worth reached a new 3.5-year high by Friday's market close, reaching a record $321.7 billion. This is more than his previous peak of $320.3 billion, which was reached in November 2021 with the growth of Tesla during the epidemic. An unprecedented $347.8 billion is thought to be his current net worth.

Many thought that favorable rules for Tesla may result from Elon Musk's influence within the Trump administration. The CEO of Space X, who holds the largest stake in the company, had an estimated $83 billion increase in net worth following the election. However, Elon Musk has been appointed head of the 'Department of Government Efficiency (DOGE),' which is called after a memecoin, by the president-elect, who is impressed by his effectiveness and financial success.

Musk's AI business increases his wealth to an unprecedented level.
The Wall Street Journal reports that Elon Musk's artificial intelligence startup, xAI, has more than doubled in value to $50 billion in recent weeks. Musk's wealth increased by an additional $13 billion due to his 60% ownership of the business. Compared to Election Day, this is a $70 billion increase.

Musk's net worth jumped from less than $200 billion six months ago to over $315 billion, according to Forbes' estimation. He now has more than $80 billion more than Larry Ellison, his nearest rival, who has $235 billion.

Tesla share: Musk is worth $145 billion for his 13% share in Tesla. More could be added by a possible 9% equity award (pending court appeal).

SpaceX Value: $88 billion of his fortune comes from his 42% investment in SpaceX, which is worth $210 billion.