Forbes or Bloomberg Billionaires Index

Elon Musk's Net Worth Surges Past $300 Billion as Tesla's Market Value Tops $1 Trillion, Stock Up 34% in a Week

Nov 11, 2024, 09:52 AM

Elon Musk's net worth has surged past $300 billion, reaching $314 billion, making him the richest person in the world. This increase is largely attributed to a significant rise in Tesla's market value, which has now surpassed $1 trillion. Tesla's shares have jumped 30% since the recent U.S. presidential election, driven by investor optimism following Donald Trump's victory. The stock is up 34% in a week and 60% over the last month, adding $415 billion to its market cap. Tesla's shares reached $340 per share in pre-market trading, surging by 7.3% and hitting 52 week highs. This surge has also contributed to a $64 billion increase in the wealth of the top 10 richest individuals in the U.S.