WELCOME TO FRENDZ4M
Mon, Dec 23, 2024, 10:14:30 PM

Current System Time:

Get updatesShare this pageSearch
Telegram | Facebook | Twitter | Instagram Share on Facebook | Tweet Us | WhatsApp | Telegram
 

Forum Main>>General Talk>>News>>

Elon Musk is the richest person in history. His net worth has increased to...

Page: 1   
Mr.Love ™User is offline now
PM [1]
Rank : Helper
Status : Super Owner

#1

Elon Musk is officially the wealthiest person in history with a net worth of $334.3 billion, according to Forbes. The dramatic rise follows a rally in Tesla stock, driven by Wall Street optimism about the pro-business stance of US President-elect Donald Trump, a close ally of the billionaire.

Tesla's stock has surged 40 per cent since Election Day, climbing 3.8 per cent on Friday alone to close at $352.56 – its highest price in over three years. This added $7 billion to Mr 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.


Elon Musk's close ties with Trump have fuelled investor confidence. After endorsing Trump earlier this year, Mr Musk donated over $100 million to his campaign. He has been appointed chair of the new “Department of Government Efficiency” (DOGE), where he will work alongside biotech entrepreneur Vivek Ramaswamy. Wall Street analysts view the incoming administration's anticipated deregulation efforts as a significant advantage for Tesla, particularly for its Full Self-Driving initiatives, which have faced regulatory scrutiny.


Beyond Tesla, Mr Musk's ventures in artificial intelligence and aerospace have further expanded his wealth. His 60 per cent stake in xAI, a private AI firm valued at $50 billion, added $13 billion to his fortune. Meanwhile, his 42 per cent 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 Mr Musk's net worth might climb even higher, potentially adding $18 billion to his fortune.

Mr Musk's current net worth puts him $80 billion ahead of Larry Ellison, Oracle's chairman, who holds the title of the world's second-richest individual with $235 billion. Most of Mr Musk's wealth stems from his 13% stake in Tesla, currently valued at $145 billion and his pending 9 per cent equity award in the company.

However, despite his historic fortune, Tesla shares remain about 14 per cent below their all-time high from late 2021. Meanwhile, the broader S&P 500 index has risen 27 per cent since then.

Reply
You are not logged in, please

Login

Page: 1   

Jump To Page:

Keywords:richest, person, history, increased, officially, wealthiest, billion, according, forbes, dramatic, follows, driven, street, optimism, business, stance,
Related threads:

Horror Bridge Collapse Caught on Camera After Councilor Requests to Fix It


Bengaluru Techie loses Rs 11.8 crore after 'digital arrest'


Software engineer loses Rs 11.8 crore in 'digital arrest' scam in Bengaluru


Center removes 'no detention policy' for students of classes 5 and 8


Kambli's health deteriorates and she is admitted to the hospital. Stable condition but...


'Jealous' man steals Rs 1.2 crore from his elder brother's house in Hyderabad


'Leaving India': businessman criticizes barriers to innovation and popcorn taxes


Nine devotees of Lord Ayyappa injured in cylinder explosion in Karnataka


Three marriages, 1.25 crore: How the 'looting bride' targeted rich men


Brazilian businessman and nine members of his family die in plane crash


TERMS & CONDITIONS | DMCA POLICY | PRIVACY POLICY
Home | Top | Official Blog | Tools | Contact | Sitemap | Feed
Page generated in 0.17 microseconds
FRENDZ4M © 2024