On November 9, 2024, Elon Musk, CEO of Tesla and SpaceX, saw his net worth increase by $26.5 billion, reaching $313.7 billion, as reported by Bloomberg's Billionaire Index. This surge in wealth reflects a historic gain for the world's top 10 richest individuals, who collectively earned $64 billion in a single day.
The sharp rise in Musk's fortune follows market optimism regarding pro-business policies anticipated under President-elect Donald Trump. Tesla's stock price surged by 28%, fueled by investor speculation that Musk's relationship with Trump could lead to favorable regulatory changes for the electric vehicle sector.
Musk's wealth growth aligns with the overall increase in Tesla's stock value and the stability of SpaceX, which is valued at approximately $82 billion. Other billionaires supporting Trump, such as Oracle co-founder Larry Ellison, also experienced significant gains, with Ellison adding $5.5 billion to his net worth.