Tesla CEO Musk's net worth reached a record $347.8 billion on Friday, partly due to the continuous rise in Tesla's stock price, and partly because his ai startup xAI was valued at $50 billion in a new financing round.
Since Donald Trump was re-elected as president of the usa, Musk has entered the core political circle under the halo of what he calls 'the best buddy,' and the valuations of many of his companies have skyrocketed.
Tesla's stock price rose 3.8% on Friday, reflecting the market's continued optimism that Trump's team's plans for autonomous driving and electric vehicle subsidies will give the company an edge over its peers. Tesla has risen 45% since November 4, the day before the election, increasing the company's market cap by approximately $350 billion.
Meanwhile, xAI's valuation has more than doubled since the financing in May, fueled by increased investor interest following Trump's victory. On Wednesday, Trump also watched a SpaceX launch with Musk. Sources revealed that the company is in preliminary discussions for a targeted share issuance, aiming to increase its valuation to about $255 billion.
As the world's richest person, Musk's wealth has surged by 35% since the day before the election.