Musk's Net Worth Tops One-Third of a Trillion Dollars

Bibhu Pattnaik

November 24, 2024

Elon Musk‘s net worth has reached an unprecedented $347.8 billion. This significant increase in wealth is attributed to a surge in the stock of Tesla Inc. (NASDAQ:TSLA) and a successful funding round for his AI startup, xAI.

What Happened: Musk’s wealth has seen a substantial increase due to a 3.8% jump in Tesla stock and a new funding round for xAI, which now values the startup at $50 billion.

This has led to Musk surpassing his previous wealth record of $340.4 billion set in 2021.

The Insider reports that the net worth of the Tesla and SpaceX CEO has increased by an unmatched $117.8 billion this year, placing him over $128 billion ahead of the second richest person, Amazon founder Jeff Bezos. Tesla’s stock has seen a surge following Donald Trump‘s victory in the U.S. presidential election, closing on Friday at $352.56.

Mark Malek, the chief investment officer at Siebert, suggested that the stock’s increase is partly due to Musk’s public involvement in Trump’s campaign.

Also Read: “I Knew If I Bought a Sink”: What Does Elon Musk’s Cryptic Tweet Mean?

Musk’s 13% stake in Tesla has also seen a significant increase in value, with his personal fortune now exceeding Salesforce’s $327 billion.

Why It Matters: The surge in Musk’s wealth highlights the growing influence of tech entrepreneurs in the global economy.

Musk’s companies, Tesla and SpaceX, have been at the forefront of technological innovation, driving advancements in electric vehicles and space travel.

The successful funding round for xAI, Musk’s AI startup, also underscores the increasing importance of artificial intelligence in various sectors.

This record-breaking increase in Musk’s wealth is a testament to the significant role these tech giants play in shaping the future of our world.

$1 Electric Aviation Stock With Tremendous Potential - Ad

Shocking Footage from Bill Gates' $100 Billion AI Project - Ad

The Only Defense Stock You Should Be Watching - Ad

LONDON (AP) — If you're tired of memorizing passwords, then give passkeys a try.

SpaceX To Launch Tender Offer, Valuing Company At Over $250 Billion: Report

SpaceX, under the leadership of Elon Musk, is reportedly preparing to initiate a tender offer next month.

Bill Gates' Mysterious New AI Project Revealed

Bill Gates' Mysterious New AI Project Revealed - Ad

Tech expert Jeff Brown uncovers Bill Gates' latest AI project, Stargate, which Forbes claims could reshape everything we think we know about our world.

Gold is suddenly not so glittery after Trump's White House victory

NEW YORK (AP) — After ripping higher for much of this year, the price of gold has suddenly become not so golden since Donald Trump's victory in the presidential election.

Leavitt Set To Become Youngest-Ever White House Press Secretary

Karoline Leavitt, at 27, will become the youngest-ever White House press secretary in Donald Trump's next administration.

24/7 Automated Profits in Crypto

24/7 Automated Profits in Crypto - Ad

All key indicators are flashing the same signal: an altcoin season is fast approaching. Access this exclusive workshop for early access to their next set of altcoin picks, a step-by-step blueprint for finding the next big altcoin winners, and a sneak peak at their crypto trading system with a 90% win rate.

Wall Street's Most Accurate Analysts Give Their Take On 3 Tech And Telecom Stocks With Over 4% Dividend Yields

During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks.

Bitcoin is at the doorstep of $100,000 as post-election rally rolls on

NEW YORK (AP) — Bitcoin topped $98,000 for the first time Thursday, extending a streak of almost daily all-time highs since the U.S. presidential election. The cryptocurrency has rocketed more than 40% in just two weeks.

Why Trump's Victory Could Fuel the Next AI Surge

Why Trump's Victory Could Fuel the Next AI Surge - Ad

Louis Navellier, tech investor and market veteran, believes Trump's return will drive a second AI boom. Get the top six stocks he recommends before they skyrocket.

Eli Lilly's Investigational Drug Cuts Sticky Cholesterol Levels By Almost 86%

Eli Lilly's muvalaplin Phase 2 trial showed significant Lp(a) reduction, meeting primary and secondary endpoints with favorable safety data.

Chipotle Rival CAVA Surges Over 17% As Q3 Earnings Beat Expectations And Full-Year Outlook Improves

The fast-casual chain, known for its Mediterranean-inspired cuisine, reported earnings of 15 cents per share, surpassing the analyst consensus of 11 cents.

What Does Trump's Presidency Mean for Elon Musk's AI Venture?

What Does Trump's Presidency Mean for Elon Musk's AI Venture? - Ad

As new allies, Trump and Musk could reshape America's AI future. Elon Musk's AI startup, xAI, might gain the edge it needs to dominate the industry. A shift in government support, fewer barriers, and a potential "backdoor" into the AI race are just the beginning. Is xAI set to become Elon's most powerful venture yet?

Boeing layoffs so far total nearly 2,200 workers in Washington state

SEATTLE (AP) — said in a notice filed with Washington's Employment Security Department on Monday that it has so far laid off 2,199 workers in the state, among job cuts that will eventually across the company.

Alaska political leaders hope to see Trump undo restrictions on oil drilling

JUNEAU, Alaska (AP) — President-elect Donald Trump during his campaign to expand oil drilling in the U.S., which is good news for political leaders in Alaska, where oil is the economic lifeblood and many felt the Biden administration has obstructed efforts to boost the state's diminished production.

How Musk & Trump Could Launch These Stocks Higher

How Musk & Trump Could Launch These Stocks Higher - Ad

Tesla (TSLA) stock has surged. But the real opportunity? Musk's AI venture, xAI. With Trump's presidency, xAI could soon lead the AI race, backed by strong government connections and fewer regulatory barriers. This powerhouse collaboration could fuel massive growth in the AI sector, and xAI may become Elon's biggest company yet.

Trump has vowed to kill US offshore wind projects. Will he succeed?

ATLANTIC CITY, N.J. (AP) — Opponents of offshore wind energy projects expect President-elect Donald Trump to kill an industry he has vowed to end on the first day he returns to the White House.

AMD Plans To Cut 4% Of Workforce Amid Strategic Shift Toward AI Chip Development To Rival Jensen Huang-Led Nvidia's Dominance: Report

AMD is laying off about 1,000 employees, or 4% of its workforce, as part of a strategy shift to focus on competing with Nvidia in the high-demand AI data center chip market.

Forget Nvidia, Apple, Tesla, and Google

Forget Nvidia, Apple, Tesla, and Google - Ad

Market Wizard Larry Benedict: "Forget 99% of stocks: It's possible to make all the money you need for a happy retirement with just this one."

Strike by workers at a casino near the Las Vegas Strip enters 2nd day

LAS VEGAS (AP) — A walkout by hundreds of hospitality workers at a casino near the entered its second day with union members willing to undergo the financial hardships of being out of work as they wait for a new contract.

Cannabis Wholesale Platform Nabis Launches In New York, Opens Two Warehouses Creating 100 Jobs

Cannabis wholesale platform Nabis has launched in the New York cannabis market. The move officially marked its status as a bicoastal operator."Expanding to New York is about more than moving into a new market — by planting our roots on the East Coast, we're laying the groundwork for our next chapter of building the national wholesaling infrastructure for brands and retailers across America," Vince C. Ning, CEO and co-founder of Nabis, said. Going forward, Nabis' wholesaling technology will provide rapid order fulfillment, payment processing, customer service and compliance to N

Grab Your Free Bitcoin Now! (Limited Time)

Grab Your Free Bitcoin Now! (Limited Time) - Ad

The crypto bull market is heating up, and now's the perfect time to grab your free Bitcoin. Just attend one of this week's exclusive workshops, immerse yourself in the knowledge, and complete a short quiz. $10 in BTC will be sent straight to your crypto wallet.

Major Investor In Trump Media Offloads Most Of Its Stake In DJT Stock

ARC Global Investments drastically reduced its stake in Trump Media & Technology Group to just 0.01%, down from over 5%, amid legal disputes and SEC allegations against its former CEO, Patrick Orlando.

What's Driving Small-Cap Success For iShares Russell 2000 ETF (IWM) In November?

U.S. small-cap stocks have delivered an exceptional performance this November. The iShares Russell 2000 ETF has climbed 8.5% in November.

Could Elon Launch a $100 Billion "Super IPO" This Year?

Could Elon Launch a $100 Billion "Super IPO" This Year? - Ad

Elon Musk has become Trump's most trusted advisors. According to one legendary investor...We are leading up to the world's first "Super-IPO" -- a company creating over $100 billion on the first day it goes public! Knowing about this "backdoor" play could be the best way to profit before the IPO... Starting with as little as $50.

Working Well: The simple act of taking deep breaths can reduce stress and anxiety

NEW YORK (AP) — A simple, uncommon ritual starts each staff meeting at Myosin Marketing. When everyone is gathered , and before they get to the meat of the agenda, CEO Sean Clayton leads his team through .

Cathie Wood Cashes Out On Rocket Lab's 28% Surge in $9M Share Sale But Expands Bet On Flying Cars

Ark Invest made significant trades on Wednesday, selling Rocket Lab shares and purchasing Amazon, Archer Aviation, Joby Aviation shares on Wednesday Nov 13, 2024.

A $50 Backdoor Play On Elon's Next "Super-IPO"?

A $50 Backdoor Play On Elon's Next "Super-IPO"? - Ad

Elon Musk has become Trump's most trusted advisors. According to one legendary investor... We are leading up to the world's first "Super-IPO" -- a company creating over $100 billion on the first day it goes public! Knowing about this "backdoor" play could be the best way to profit before the IPO...Starting with as little as $50.

Gaetz Nomination In Peril Due To GOP Resistance

Matt Gaetz's nomination for attorney general may already be in trouble due to resistance from members of his own party.

Warner Bros. Discovery NBA Deal 'Best Case Scenario': Analyst Says Renewal Structure Could Boost Annual Profit

Warner Bros. Discovery reaching a deal with the NBA that includes some international rights and licensing of "Inside the NBA" could be a win.

An Electric Aircraft Company With Potential to Break Out

An Electric Aircraft Company With Potential to Break Out - Ad

If you're watching the electric aviation sector, this is a stock to keep an eye on with a strong market position and cutting-edge technology.

Colorado's Marijuana Sales, Tax Revenue Slump Amid Hemp Competition

Colorado's cannabis sales and tax revenue drop amid rising competition from hemp-derived THC products and regulatory challenges.

Charlotte airport workers voting on whether to strike during busy Thanksgiving travel week

CHARLOTTE, N.C. (AP) — Service workers at Charlotte Douglas International Airport filled out paper ballots on a busy Friday before Thanksgiving to decide whether to go on a 24-hour strike during the holidays.

Buffett, Bloomberg, & 48 Congress Members Are Buying 1 Sector

Buffett, Bloomberg, & 48 Congress Members Are Buying 1 Sector - Ad

Why are Warren Buffett, Jeff Bezos, Michael Bloomberg, "The Walmart Family", Bill Gates, and 48 members of Congress shifting their stocks in a frenzy? And why are they all piling into ONE unique corner of the market... The last time we saw the world's wealthiest investors move their cash into this corner of the market, Stocks exploded 2,020%, 5,609% Even as high as 8,437% in just ONE year. Now, it's all happening again.

Delta Chief Says Trump Could Be A 'Breath Of Fresh Air' For Aviation Industry

Delta Air Lines CEO Ed Bastian has suggested the President-elect Donald Trump's administration could provide a "breath of fresh air" for the airline industry, criticizing what he perceives as government "overreach" during President Joe Biden's era.

WHO Calls Vaccines 'Absolutely Critical' As Trump's Appointment Of RFK Jr Pulls Pzifer, Moderna Stocks Downhill

Trump's decision to appoint Kennedy, known for his vaccine skepticism, has sparked significant attention.

The Single Best Electric Aviation Stock to Keep an Eye on Today

The Single Best Electric Aviation Stock to Keep an Eye on Today - Ad

Looking for the next big EV opportunity? The market is expanding rapidly, and one stock is standing out with its innovative approach and strong industry partnerships. Find out more about this potential game-changer.

Astros ballpark to be renamed Daikin Park from Minute Maid Park on Jan. 1

HOUSTON (AP) — The Houston Astros' home will get a new name on Jan. 1, becoming Daikin Park under an agreement through the 2039 season the team announced Monday.

India's Modi seeks energy security from Guyana and its vast oil deposits

GEORGETOWN, Guyana (AP) — Indian Prime Minister Narendra Modi said Thursday that his government views the South American country as key to its energy security.

Trump's AI Revolution Could Supercharge This "Invisible" Tech

Trump's AI Revolution Could Supercharge This "Invisible" Tech - Ad

The moment President Trump repeals Joe Biden's radical left-wing Executive Order on AI, we'll witness an unprecedented AI boom of epic proportions. And one niche area of this red-hot sector is ripe for enormous growth. Find out the details of the brilliant little company whose "invisible" technology could help you turn $2,000 into $12,000 over the next 5 years.

FanDuel Sports Network regional channels will be available as add-on subscription on Prime Video

LOS ANGELES (AP) — announced Wednesday it reached a multi-year agreement with Prime Video to make its 16 regional sports network channels available as an add-on subscription.

Trending Now