Elon Musk Net Worth Over $400 Billion as Tesla Stock Hits New Highs

Friday Dec 13 2024 03:55

Duration

3 min

  1. 1. Tesla Stock Reaches New Highs, Boosting Elon Musk's Wealth to $439.2 Billion

  2. 2. Elon Musk's Wealth Surges 66% Post-2024 Election

elon-musk-width-1200-format-jpeg.jpg

Tesla stock news today: Billionaire Elon Musk has made history as the first individual to surpass a net worth of $400 billion, driven by a sustained surge in Tesla stock prices (TSLA)following Donald Trump's victory in the 2024 presidential election.


Tesla Stock Reaches New Highs, Boosting Elon Musk's Wealth to $439.2 Billion


Tesla stock is on the rise, with analysts raising their price targets and shares hitting a new 52-week high of $415. This surge has propelled Tesla to reach a new all-time high, surpassing the previous record set in November 2021. The soaring price of Tesla stock has also contributed to an increase in Elon Musk's wealth, which now stands at $439.2 billion, according to a Bloomberg report.

Musk's wealth gains extend beyond Tesla, with a recent share sale for his space company SpaceX adding around $50 billion to his net worth. SpaceX is now valued at $350 billion, while Musk's artificial intelligence company xAI has more than doubled its valuation since May, further adding to his wealth gains. In fact, Musk has accumulated $210.2 billion in wealth in 2024 alone, making him one of the richest individuals in the world.

For investors seeking insights into the moves of industry leaders, our Insider Trades page provides valuable information on when CEOs like Mark Zuckerberg, Elon Musk, and Jensen Huang are offloading their own shares. Stay informed and make strategic investment decisions with our comprehensive insider trading data.


Elon Musk's Wealth Surges 66% Post-2024 Election


As Musk's wealth continues to surge, it is worth noting that his gains have increased by 66% since the 2024 election. Tesla's stock performance since Trump's win has played a significant role in these gains. With Tesla shares up significantly, Musk's wealth has seen a remarkable boost.

Looking ahead, Musk's wealth could continue to grow in the coming years. The new White House administration may eliminate electric vehicle tax credits, benefiting Tesla as it remains at the forefront of the EV industry. Additionally, there is optimism that the administration will support regulation for self-driving vehicles like the Tesla robotaxi, reversing the previous ban proposed by the Trump administration.

Musk's involvement in government affairs is set to continue, as the president-elect has chosen him to co-lead the Department of Government Efficiency. This appointment could have implications for Musk's businesses and competitors, as the department focuses on cost-cutting measures in government spending.

While Musk's wealth faces potential challenges, such as the pending case against his 2018 Tesla pay compensation plan, his influence and business ventures continue to shape industries like space exploration through SpaceX. With Jared Isaacman, an investor in SpaceX, being nominated to lead NASA, the company may secure more government contracts and experience further valuation growth.

When considering shares, indices, forex (foreign exchange) and commodities for trading and price predictions, remember that trading CFDs involves a significant degree of risk and could result in capital loss.

Past performance is not indicative of any future results. This information is provided for informative purposes only and should not be construed to be investment advice.



Risk Warning and Disclaimer: This article represents only the author’s views and is for reference only. It does not constitute investment advice or financial guidance, nor does it represent the stance of the Markets.com platform. Trading Contracts for Difference (CFDs) involves high leverage and significant risks. Before making any trading decisions, we recommend consulting a professional financial advisor to assess your financial situation and risk tolerance. Any trading decisions based on this article are at your own risk.

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Frances Wang

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  1. 1. Tesla Stock Reaches New Highs, Boosting Elon Musk's Wealth to $439.2 Billion

  2. 2. Elon Musk's Wealth Surges 66% Post-2024 Election

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