Elon Musk reaches $348B net worth after Tesla surge

Elon Musk, CEO of Tesla and SpaceX, has achieved a record net worth of $348 billion, driven by a surge in Tesla’s stock and a major funding round for his artificial intelligence startup, xAI.  

This milestone surpasses Musk’s previous peak of $335 billion earlier this month, solidifying his position as the world’s richest individual.  

Tesla’s stock rose 3.8% on November 22, closing at $352.56, marking a 45% increase since November 4 and adding approximately $350 billion in market value to the automaker.  

Tesla shares have nearly doubled in the past six months and are now within 15% of their all-time high of $407, achieved in November 2021.  

Musk’s wealth is primarily tied to his 13% stake in Tesla, valued at $145 billion, and a 42% stake in SpaceX, estimated at $210 billion as of June.  

SpaceX’s valuation could exceed $250 billion through an upcoming tender offer, potentially adding $18 billion to Musk’s fortune.  

Additionally, xAI recently secured a $50 billion valuation after a $50 million funding round, further boosting Musk’s net worth.  

According to the Bloomberg Billionaires Index, Musk’s fortune has risen by $119 billion, or 52%, since the beginning of the year.  

He is now $80 billion wealthier than the second-richest individual, Larry Ellison, whose net worth stands at $235 billion.  

Musk’s financial ascent coincides with Tesla’s market resurgence and optimism following Donald Trump’s U.S. presidential election victory.  

Musk also sparked online discussion with a lighthearted comment about potentially purchasing MSNBC after Comcast’s announcement to spin off cable companies, including CNBC and MSNBC.  

Joe Rogan jokingly responded to Musk’s remark, suggesting he host a news program, adding humor to the billionaire’s latest headlines.