Elon Musk has become the first person to reach a net worth of $300 billion, thanks to a sharp rise in Tesla’s stock price. His wealth now stands at $304 billion, making him the only member of the $300 billion club, according to Forbes.
The surge in Musk’s net worth comes after Tesla shares jumped nearly 30% in just five days, following Donald Trump’s victory in the 2024 US Presidential Election. On Friday, Tesla’s stock increased by 8.19%, adding $14 billion to Musk’s fortune.
Before the election, Musk was already the world’s richest person, with a net worth of around $250 billion. However, his wealth soared after Trump’s win. Musk had openly supported Trump throughout the campaign and attended his rallies, and the rise in Tesla stock followed investor optimism around Trump’s victory.
Musk’s wealth is tied closely to Tesla’s success, but his involvement in SpaceX and other ventures also plays a major role. As of now, Musk stands at the top of the wealth rankings, ahead of Oracle’s Larry Ellison, who is worth $230.7 billion, and Amazon founder Jeff Bezos, who has $224.5 billion.
