Elon Musk's Wealth Jumps to $347.8 Billion Post-Election

After the US presidential election in 2024, Elon Musk, the richest man in the world, witnessed a jump in his wealth, as its value exceeded $347.8 billion, achieving a new record.

This significant increase did not come out of nowhere, but rather as a result of his strategic alliances with President-elect Donald Trump, in addition to the impact of the policies of the next administration on the future of his major companies such as Tesla and SpaceX.

In this context, Musk's increasing wealth reflects the economic trends that the United States may witness under Trump, as investors are betting that the era of "regulatory relaxation" will benefit his economic empire.

Musk's wealth reached a new record value, surpassing his previous record of $340 billion, which he achieved in November 2021, according to the Bloomberg Billionaires Index.

The 2024 U.S. presidential election results have been a boon for Musk, with Tesla shares up nearly 40% since Election Day on Nov. 5, and jumping 3.8% on Friday alone, as investors anticipate that Musk’s influence in the Trump administration will lead to looser regulations, benefiting the company.