In less than 3 weeks since the US presidential election, billionaire Elon Musk’s assets have increased by nearly 30%. Investors expect policies under President Trump to benefit Musk’s companies.

Billionaire Elon Musk’s net worth has increased by $70 billion since President-elect Donald Trump won.

Since the November 5 election, Tesla’s stock price has increased by 40% and the valuation of artificial intelligence company xAI has also doubled, causing billionaire Elon Musk’s assets to increase at a record pace.

It’s hard to imagine that Elon Musk’s fortune would increase by nearly 30% in less than three weeks, despite the fact that the American billionaire is already famous for his risky business ventures and, more recently, his close relationship with President Trump.

According to Bloomberg Billionaires Index, as of November 26, Elon Musk has a net worth of 348 billion USD, an increase of more than 9 billion USD in just 1 day and an increase of 119 billion USD since the beginning of the year.
Billionaire Elon Musk’s assets have increased sharply recently (Photo: Bloomberg Billionaires Index).

President Trump’s return to the White House is seen as a boon for Tesla, the electric car company of which Musk is the CEO and largest shareholder. Investors expect that regulatory oversight will be loosened during President Donald Trump’s next term, especially for the company’s self-driving car products.

In addition, investors also believe that Elon Musk has great influence over President Trump, so he can easily lobby for policies that benefit his companies.

The bulk of Elon Musk’s wealth comes from his 13% stake in Tesla, which is currently worth $145 billion. He also holds warrants equivalent to a 9% stake that are currently locked in an unresolved lawsuit.

Another important source of Elon Musk’s wealth is his 42% stake in SpaceX, which was valued at $210 billion in a June IPO, meaning Musk’s stake is worth $88 billion.

Not only that, the billionaire also has shares in the company that connects computers with the human brain Neuralink, the social network X (formerly Twitter), and xAi.

xAi’s valuation has more than doubled to $50 billion in recent weeks, according to the Wall Street Journal . Elon Musk’s 60% stake in xAI has added $13 billion to his fortune thanks to this growth.

SpaceX is expected to make a new public offering next month that would value the company at $250 billion, adding another $18 billion to Elon Musk’s fortune.