GG News Bureau
New Delhi, 30th Nov. Elon Musk has officially claimed the title of the richest person in history, with a staggering net worth of $334.3 billion, according to Forbes. This milestone comes after a surge in Tesla’s stock, which soared by 40% following investor optimism linked to the pro-business stance of US President-elect Donald Trump, a close associate of Musk.
Since Election Day, Tesla’s stock has hit a new high, closing at $352.56 on Friday—the highest in over three years. This 3.8% rise in stock value added $7 billion to Musk’s fortune, surpassing the previous wealth record of $320.3 billion set during Tesla’s peak in November 2021.
Investor confidence in Musk has been bolstered by his strong relationship with Trump. Musk publicly endorsed Trump earlier this year and contributed over $100 million to his presidential campaign. Musk has also been appointed chair of the newly formed “Department of Government Efficiency” (DOGE), where he will collaborate with biotech entrepreneur Vivek Ramaswamy. The anticipated deregulatory measures under the new administration are expected to benefit Tesla, particularly in advancing its Full Self-Driving (FSD) program.
Musk’s wealth, however, extends beyond Tesla. His ventures in artificial intelligence and aerospace have also played a significant role in his fortune. Musk’s 60% ownership of xAI, a private AI company valued at $50 billion, has added $13 billion to his net worth. Moreover, his 42% stake in SpaceX, valued at $210 billion during a recent tender, has contributed $88 billion. Speculation surrounding a potential funding round for SpaceX, which could value the company at $250 billion, suggests Musk’s fortune may grow further.
Musk’s current net worth places him $80 billion ahead of Oracle Chairman Larry Ellison, the second-richest person globally, with $235 billion. A major portion of Musk’s fortune comes from his 13% stake in Tesla, valued at $145 billion, as well as a pending 9% equity award in the company.
Despite his record-breaking wealth, Tesla shares are still 14% below their all-time high in late 2021. In contrast, the broader S&P 500 index has risen by 27% during the same period, reflecting a more diversified market recovery.
Looking ahead, Musk could potentially become the world’s first trillionaire by 2027, according to a report by Informa Connect Academy. With his current net worth of $237 billion, Musk would need to maintain an average annual growth rate of 110% to reach this historic milestone.
In comparison, Indian industrialist Gautam Adani, ranked 13th on the global billionaire index with a net worth just under $100 billion, is projected to become a trillionaire by 2028. Adani’s diverse business empire, ranging from ports to power, has been growing at an impressive average annual rate of 123%.
Mukesh Ambani, Asia’s richest individual with a net worth of $111 billion, is expected to reach trillionaire status by 2033. His conglomerate, Reliance Industries Limited (RIL), is projected to achieve a trillion-dollar market capitalization by 2035, making it the only Indian firm expected to reach that valuation.
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