Elon Musk, the world’s richest businessman, has witnessed a significant rise in his net worth recently. According to the latest data from the Bloomberg Billionaires Index, Musk’s net worth increased by a staggering $12.9 billion on November 19, bringing his total wealth to $326 billion. This growth is a part of a larger trend, as his net worth has surged by $62 billion in just two weeks since Donald Trump’s victory in the U.S. election, an increase of approximately Rs. 5 lakh crore.
What’s remarkable is that this surge in Musk’s wealth brings him just $14 billion short of his own all-time high net worth of $340 billion, which he set in November 2021. As of now, he is rapidly closing the gap, with his wealth seeing a dramatic increase year-to-date—$97.2 billion. To put this into perspective, even Mukesh Ambani, the richest businessman in Asia, currently has a net worth of just over $95 billion.
Surge Following Trump’s Victory:
Experts believe that the sharp rise in Musk’s wealth is largely influenced by his close ties to Donald Trump. Musk, a known supporter of Trump, reportedly raised political funds during the election, which could have contributed to the increase in shares of his companies, notably Tesla. The direct impact of Trump’s victory has been seen in the significant increase in Tesla’s stock price.
Tesla Shares See a Tremendous Rise:
The primary driver behind Musk’s wealth growth is the remarkable rise in Tesla’s stock value. On November 19, Tesla’s shares climbed by 5.62 percent, reaching $338.74. Over the past two weeks, Tesla shares have gained 39.49 percent, peaking at a 52-week high of $358.64 on November 11. This surge has propelled Tesla’s market capitalization to a new high of $1.087 trillion, up from $779 billion on November 4. This represents an incredible increase of $308 billion in just two weeks.
With such rapid gains, Musk’s financial trajectory seems unstoppable, and the question on everyone’s mind is whether he will soon surpass his previous record, cementing his place as the richest person in the world.
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