Thanks to the recent significant increase in Tesla's stock price, the world's richest man Elon Musk's net worth has skyrocketed, with his personal net worth reaching a historic high.
On Friday, November 22nd Eastern Time, Tesla's stock price rose 3.8% to $352.56 per share, reaching a new high since April 2022, with a total market value of $1.13 trillion. Since November 4th, Tesla's stock price has risen by 45% and its market value has increased by approximately $350 billion.
As the owner of Tesla, Musk is naturally the biggest beneficiary of the skyrocketing stock price of this electric vehicle giant, with his wealth breaking the record set in early November 2021 when Tesla's stock price reached its highest level in history.
It should be noted that the two mainstream wealth statistics currently have slight differences. According to Forbes, Musk's current personal net worth has reached $321.7 billion, while the Bloomberg Billionaires Index puts this at $347.8 billion.
The sharp rise in Tesla's stock price is mainly due to Donald Trump's victory in the US election. Given that Musk is an important supporter of Trump, the market is betting that Tesla will benefit from Trump's policies during his second term.
Previously, there were media reports that the Trump team planned to relax regulations on electric driving vehicles, which would benefit Tesla's Robotaxi. There are also reports that the Trump team is considering phasing out the tax credits provided by the Biden administration for eligible electric vehicles, which would also benefit Tesla as its competitors are clearly more reliant on this policy.
In addition to the sharp rise in Tesla's stock price, Musk's increase in wealth is also related to two other companies under his umbrella.
As the world's most famous serial entrepreneur, Musk owns several star companies, including space exploration technology company SpaceX, artificial intelligence company xAI, social media platform X, and brain computer interface company Neuralink, in addition to Tesla.
According to The Wall Street Journal, xAI raised $5 billion in its latest round of funding at a valuation of $50 billion.
Multiple media reports suggest that SpaceX is in preliminary discussions to sell internal stocks, which will increase its valuation to $250 billion.
It is worth mentioning that Tesla's stock price is still about 14% lower than the historical high set in November 2021, which means that Musk's wealth may still have a lot of room for growth.