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.

The post Elon Musk’s Net Worth Soars by $13 Billion, Inches Closer to Record-Breaking Wealth appeared first on Vizag One.

On Monday, the stock market experienced intense fluctuations, partly influenced by the ongoing American elections and broader economic uncertainties, which adversely affected Reliance Industries and Adani Group stocks. Reliance’s stock dropped close to 3%, resulting in a net worth decline of $2.72 billion for Mukesh Ambani, whose total wealth now stands at $98.8 billion. Despite the current dip, Ambani’s net worth has still grown by $2.42 billion this year, highlighting overall upward momentum despite recent challenges.

Similarly, Gautam Adani’s wealth declined by $2.06 billion, reducing his net worth to $92.3 billion. Even with this recent setback, Adani has accumulated a substantial increase of $8.05 billion in 2023, underscoring his continued business growth.

The broader market saw a notable drop as the BSE Sensex fell by 1,491.52 points, closing at 78,232.60 on Monday, reflecting the heavy impact of international and domestic factors on Indian stocks. This market downturn has created ripple effects across sectors, affecting global billionaires as well. Among others, Tesla and SpaceX CEO Elon Musk experienced a loss of $4.39 billion, bringing his net worth down to $258 billion, although he continues to lead the world’s wealthiest list. Jeff Bezos, Amazon’s founder, holds second place with a net worth of $218 billion, followed by Meta’s Mark Zuckerberg in third, who recently left the $200 billion club with a net worth of $199 billion.

Top 10 Richest People and Their Net Worth:

1. Elon Musk – $258 billion
2. Jeff Bezos – $218 billion
3. Mark Zuckerberg – $199 billion
4. Larry Ellison – $181 billion
5. Bernard Arnault – $176 billion
6. Bill Gates – $157 billion
7. Larry Page – $152 billion
8. Sergey Brin – $144 billion
9. Steve Bernal – $142 billion
10. Warren Buffett – $140 billion

As stock markets continue to fluctuate, wealth shifts among the world’s richest are becoming more dynamic. For Indian billionaires like Ambani and Adani, this volatility underscores the challenges of sustaining massive wealth in an interconnected global economy, where market shifts reverberate through every sector.

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