Elon Musk’s Net Worth Reaches $348 Billion as Tesla and xAI Propel the Surge

Elon Musk’s Net Worth Hits $348 Billion, Surpassing Jeff Bezos and Larry Ellison by $129B and $142B Respectively

Elon Musk has become the wealthiest person in the world, with a current net worth of nearly $348 billion. This surpasses the net worth of Jeff Bezos, which is $219 billion, by at least $129 billion. Additionally, Musk’s net worth is nearly $142 billion higher than Larry Ellison’s net worth of $206 billion. Among the top 500 billionaires, Musk also holds the highest year-to-date change in net worth, with a gain of $119 billion. This is at least $35.8 billion higher than Larry Ellison’s year-to-date change of $83.2 billion. Reports suggest that the surge in Musk’s net worth can be attributed to the success of Tesla and xAI. Here is everything you need to know about Musk’s latest increase in net worth.

Tesla’s Stock Price Surge

During the period of November 4 to 11, Tesla’s stock price experienced a significant increase of 43.95%. This contributed significantly to Musk’s wealth, which has been steadily growing throughout the year. The year-to-date growth of Tesla’s stock price currently stands at 42.09%. However, it is important to note that the current price of Tesla is 14.30% lower than its peak in 2021, indicating potential for further market growth.

The Rise of xAI and its Valuation

xAI Corp, a startup founded by Musk in March 2023, specializes in the field of Artificial Intelligence. It is known for its ambitious goal of understanding the true nature of the universe. Recently, xAI’s valuation increased from $24 billion to $50 billion after its latest funding round.

In conclusion, Elon Musk’s extraordinary net worth is a testament to his successful ventures in Tesla and xAI.