Elon Musk’s fortune has risen sharply, reaching $314 billion as of Saturday, boosted by a $50 billion increase since November 5.
According to the Bloomberg Billionaires Index, Musk stands as the only person with a net worth above $300 billion, with Jeff Bezos and Mark Zuckerberg trailing at $230 billion and $209 billion, respectively.
Tesla’s recent performance in the stock market has driven much of this wealth surge. The electric vehicle (EV) giant’s shares have jumped by about 28% since Tuesday, propelling Tesla to reclaim a trillion-dollar market valuation for the first time since April 2022.
Looking ahead, analysts like Dan Ives from Wedbush believe that if former President Trump were to win the upcoming election, it could further benefit Tesla. Trump is expected to reconsider EV subsidies, which could disadvantage newer and smaller EV companies.
Ives suggested this would position Tesla as a market leader, particularly if import tariffs on Chinese EVs increase, reducing competition from companies like BYD and Nio in the U.S. market.
Other Musk ventures, such as SpaceX, may also stand to gain from potential defense contracts under a Trump administration, with experts like Francesco Trebbi noting that these policies could favor SpaceX’s growth trajectory.