Elon Musk’s fortune has continued to grow since Donald Trump’s victory in the US presidential election. With nearly $350 billion to his name, the richest man on the planet has just broken his previous record.
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The value of Elon Musk’s portfolio climbed by US$9 billion last Friday to stand at US$347.8 billion. He thus exceeded for the first time the $340 billion mark, which he reached in November 2021, according to the Bloomberg Billionaires Index.
Since November 5, Elon Musk’s fortune has completely eclipsed that of other major billionaires. As of Monday, the Tesla founder had about $129 billion more than the second richest man in the world, Amazon owner Jeff Bezos (US$219 billion).
In just a few weeks, Elon Musk pocketed more than $83 billion. Last April, his assets numbered “only” $166 billion and they had been decreasing almost constantly since the previous December.
Tesla shares have indeed rebounded after the election of Donald Trump. Since then, their value has increased by around 40% and by 3.8% during the day last Friday, when the record was reached.
These results are not unrelated to investors’ conviction that Elon Musk’s influence in Donald Trump’s administration will pave the way for a period of deregulation which will be beneficial for Tesla.
The billionaire, who owns Tesla, SpaceX, X and Neuralink, was appointed by Donald Trump to head the new department of “government efficiency”.
