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.

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

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

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

Tesla Inc. is actively recruiting software engineers to enhance its teleoperation capabilities for robotaxis and the Optimus robot.

Australia's House of Representatives passes bill that would ban young children from social media

MELBOURNE, Australia (AP) — Australia’s House of Representatives on Wednesday passed a bill that would , leaving it to the Senate to finalize the world-first law.

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.

Donald Trump Victory Week: These 10 Large Cap Stocks Were the Biggest Gainers

The 10 top-performing large-cap stocks last week.

44 years after New York couple vanished, car matching description of theirs is found in Georgia

BRUNSWICK, Georgia (AP) — A car similar to one driven by a wealthy New York couple missing for more than four decades has been found in a south Georgia pond near the hotel where they were last seen, police in Georgia said.

Trump's "Bitcoin Plot" Will Mint Millionaires: Investors Must Act Before 2025

Trump's "Bitcoin Plot" Will Mint Millionaires: Investors Must Act Before 2025 - Ad

Trump's vision is to make America the "crypto capital" of the world. But here's the thing...I'm not buying a single Bitcoin... Instead, I'm taking advantage of a powerful "Bitcoin loophole" that has outperformed Bitcoin by leaps and bounds. The best part? You can start today with as little as $25.

Dogecoin Is 'Harder Money' Than Bitcoin, Says Raoul Pal: Here's What The Numbers Say

Dogecoin (CRYPTO: DOGE) rallied 17% over the past week, spurred by speculation around Elon Musk's X Payments platform potentially incorporating DOGE.

Mississippi Gulf Coast restaurant and its co-owner are sentenced for mislabeling seafood

GULFPORT, Miss. (AP) — A Mississippi Gulf Coast restaurant and its co-owner it were sentenced Monday on federal charges of as local premium fish.

Amazon's $150 Billion Bet (Here's How to Play It)

Amazon's $150 Billion Bet (Here's How to Play It) - Ad

Amazon is making its biggest investment ever... $150 billion to be exact. And one company stands to benefit from this massive capital influx. This company could deliver a huge windfall for investors who get in before this story hits the mainstream, which could happen at any time.

What to know about Scott Bessent, Trump's pick for treasury secretary

WASHINGTON (AP) — has chosen money manager Scott Bessent, an advocate for deficit reduction and deregulation, to serve as his next treasury secretary.

Federal Reserve's likely slowdown in rate cuts could disappoint borrowers

WASHINGTON (AP) — Just a few weeks ago, the path ahead for the Federal Reserve looked straightforward: With inflation cooling and the job market slowing, the Fed appeared on track to steadily cut interest rates.

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.

Archegos hedge fund founder Bill Hwang gets 18 years in prison for massive fraud

NEW YORK (AP) — The founder of Archegos Capital Management, a hedge fund, was sentenced to 18 years in prison on Wednesday for securities and market manipulation fraud in a scheme that prosecutors said cost global investment banks billions of dollars.

As Tesla Rides Trump Rally, Cathie Wood Sells $15.4M Worth Of Stock

On Tuesday Nov 19, 2024 Cathie Wood sold $15.4 million worth of Tesla shares.

The Secret Weapon You Need for This Bull Market

The Secret Weapon You Need for This Bull Market - Ad

There's a powerful tool that can remove all the guesswork from trading. It's built to trade the key levels for you, buying dips and selling at the right time, without you having to lift a finger. For a limited time, the creators of this incredible tool are holding a free Workshop where you can see the software in action.

McDonald's to expand US value menu as fast food chains battle for bargain seekers

McDonald's will expand its U.S. value menu early next year as it continues to try to win back inflation-weary customers.

Palantir Board Member In A Deleted X Post Said Nasdaq Move Will 'Force Billions In ETF Buying And Deliver Tendies': Here's What This Meme-Stock Term Means

Palantir Technologies Inc has been making headlines after its board member, and partner at 8VC, Alex Moore deleted his X (formerly Twitter) account after saying in a tweet that its move to Nasdaq will "force billions in ETF buying."

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?

Man who stole and laundered roughly $1B in bitcoin is sentenced to 5 years in prison

WASHINGTON (AP) — A computer expert who stole worth billions of dollars at current prices — and then spent years laundering some of the hacked cryptocurrency with help from his wife — was sentenced on Thursday to five years in prison.

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.

REVEALED: Google and IBM Make Monster $31.2 Billion Bet on Stunning New Innovation

REVEALED: Google and IBM Make Monster $31.2 Billion Bet on Stunning New Innovation - Ad

Huge, blue-chip companies are rushing at breakneck speed to invest in a groundbreaking new technology. Google and IBM just placed a giant $31.2 billion bet on it. Amazon, Apple, Facebook, Oracle, Ford, Tesla... the list goes on and on. Now you have the chance to invest alongside them. Find out what this incredible new technology is here before the rest of Main Street catches wind.

Higher energy bills push UK inflation to 6-month high in October

LONDON (AP) — Inflation in the U.K. rose sharply to a six-month high in October and back above the rate targeted by rate-setters at the Bank of England, official figures showed Wednesday, an increase that is set to cement market expectations that there will be no further cuts in borrowing rates this year.

Bitcoin Hits $95K For The First Time Ever, Ethereum, Dogecoin Flat As Trump's Crypto Policy Takes Shape: Top Analyst Describes BTC's Path To $135K

Bitcoin hit $95,000 for the first time ever, following reports of a cryptocurrency-focused role in the incoming Donald Trump administration.

Top Choice for Tech-Savvy Investors

Top Choice for Tech-Savvy Investors - Ad

Exploring the next wave of electric aviation stocks? This company is leading the charge with its innovative approach to electrification and strong industry ties.

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.

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.

The Dark Truth About AI Stocks

The Dark Truth About AI Stocks - Ad

All the signs show the AI market is about to reverse. And unless you know what's really going on in this sector, you could be wiped out. Inside this new expose, you'll discover exactly how the AI crisis will unfold... how you can prepare for it before it's too late... and how you can potentially profit from it, too.

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.

Trump's treasury pick could give an indication of what he plans to do about tariffs

WASHINGTON (AP) — President-elect Donald Trump’s decision on a treasury secretary is about far more than whose name will be printed on America’s money.

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.

Weekend Round-Up: AI Dominates Headlines With Nvidia, Elon Musk, And Hollywood's Big Names

From Nvidia's impressive Q3 earnings to Elon Musk's bold predictions about AI, the tech world has been abuzz with exciting developments.

Stock Of The Day: Is Pfizer Set Up To Rally?

Shares of Pfizer (PFE) may be about to reverse and head higher. They are both oversold and at a support level.

Trump Is Sending This Bitcoin Stock Flying

Trump Is Sending This Bitcoin Stock Flying - Ad

Founder of artificial intelligence company used by schools in Los Angeles, NYC, Atlanta is arrested

NEW YORK (AP) — The founder of an artificial intelligence company that supplied school districts in Los Angeles, New York and Atlanta with a chatbot to create learning plans for students was arrested on fraud charges Tuesday, accused of spending investor money on herself as her company spiraled into bankruptcy.

SpaceX CEO Elon Musk Reveals Technical Glitch That Led Company To Drop Key Objective Of Starship's 6th Test Flight

SpaceX chose not to catch Starship's booster with the launch tower on its sixth test flight, instead opting for a splashdown in the Gulf of Mexico.

$1 Electric Aviation Stock With Tremendous Potential

$1 Electric Aviation Stock With Tremendous Potential - Ad

The electric aviation market is just taking off, and this company is at the forefront. With significant revenue and strategic partnerships, this stock is poised to make a big impact.

California voters reject measure that would have raised minimum wage to nation-high $18 per hour

SACRAMENTO, Calif. (AP) — Voters in California have rejected a ballot measure that would have raised the state minimum wage to , the highest in the country.

Larry Kudlow As Trump Economic Advisor? Fox Business Host Under Consideration For Return To White House

Larry Kudlow is the latest name to be reported for a role within the new Donald Trump White House administration. Kudlow previously served under Trump from 2018 to 2021.

Single Stock Blueprint Available Now

Single Stock Blueprint Available Now - Ad

Market Wizard Larry Benedict is one of the most successful traders you'll ever meet...But he doesn't make money the traditional way. In short: It's a way to trade just one stock...And potentially make all the money you need to fast-track your retirement -- no matter what happens in the stock market.

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.

Trending Now