Elon Musk’s Net Worth Hits Record High Thanks To Post-Election Windfall | Forbes Topline - video Dailymotion

Forbes

Elon Musk is officially the richest he’s ever been (and the wealthiest person ever), according to Forbes’ calculations, as the planet’s richest person grew much richer as shares of the Musk-led publicly traded electric vehicle company Tesla soared after the election win of Musk’s close ally Donald Trump.  Read the full story on Forbes: https://www.forbes.com/sites/dereksaul/2024/11/22/elon-musks-net-worth-hits-record-high-thanks-to-57-billion-post-election-windfall/  Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1  Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:  https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript  Stay Connected Forbes newsletters: https://newsletters.editorial.forbes.com Forbes on Facebook: http://fb.com/forbes Forbes Video on Twitter: http://www.twitter.com/forbes Forbes Video on Instagram: http://instagram.com/forbes More From Forbes:  http://forbes.com  Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.

Transcript

00:00Elon Musk is officially the richest he's ever been, and the wealthiest person ever,

00:05according to Forbes calculations.

00:08The planet's richest person grew much richer as shares of the Musk-led publicly traded

00:13electric vehicle company Tesla soared after the election win of Musk's close ally, Donald

00:19Trump.

00:20Musk's net worth is now $330.3 billion as of market close on November 25.

00:28That eclipses the previous high watermark of $320.3 billion set November 5, 2021 amid

00:35Tesla's pandemic-era surge.

00:38With the valuation of his generative artificial intelligence company XAI swelling to $50 billion,

00:44according to the Wall Street Journal, Musk got a further $13 billion richer, as Musk

00:50owns 60% of the AI company.

00:54The primary source of Musk's fortune is his 42% stake in SpaceX, which was valued

00:59at $210 billion in a June tender offer, putting Musk's stake in the private aerospace and

01:05satellite communications company at $88 billion.

01:10Musk holds less valuable stakes in his other companies, including human brain implant company

01:15Neuralink and X, the social media company formerly known as Twitter.

01:21Trump's unofficial secretary of cost-cutting, Musk will chair the newly-commissioned Department

01:26of Government Efficiency alongside fellow billionaire Vivek Ramaswamy.

01:31Perhaps no surprise considering the stock's ascent since the election, Wall Street analysts

01:36covering Tesla largely view a Trump presidency as a boon for the automaker, due mostly to

01:41the prospect of fewer regulations for the company's controversial full self-driving

01:46programs.

01:48Musk is again owner of the largest fortune ever tracked by Forbes, topping the record

01:53he set in 2021.

01:56Tesla shares still trade about 14% below their all-time high set in late 2021, at Musk's

02:02prior net worth apex, a time in which the S&P 500 has advanced 27%.

02:09For more on this story, check out Derek Saul's article in the link in the description.

Elon Musk’s Net Worth Hits Record High Thanks To Post-Election Windfall | Forbes Topline

Category

Transcript

Comments

Recommended