Hey everybody. Welcome back to the Elon Musk
Podcast. This is a show where we discuss
the critical crossroads that shape SpaceX, Tesla X, The
Boring Company, and Neurolink. I'm your host Will Walden.
Elon Musk's net worth reached an extraordinary $347.8 billion on
Friday, breaking his previous high of $340.4 billion set back
in November of 2021. This milestone was fueled by
Tesla's soaring stock price and a significant funding round that
valued his artificial intelligence venture XAI at
around $50 billion. Musk, who is the founder and CEO
of Tesla and of multiple high profile companies, has seen his
fortune rise dramatically since the election of Donald Trump as
the next U.S. President.
Now, Tesla shares climbed 3.8% on Friday, closing at $352.56.
The company's stock has risen 45% since November 4th, the day
before Trump's election win, adding an estimated $350 billion
in market value. The surge reflects investor
confidence that Trump's policies on EVs and autonomous cars will
favor Tesla over traditional automakers, currently valued at
$1.13 trillion. Tesla's position as a leader in
EV technology has never seemed stronger.
Now, part of this optimism stems from Trump's support for a
federal framework to advance self driving vehicles.
His administration's transition team has indicated plans to
prioritize removing state level restrictions that have hindered
companies like Tesla from deploying fully autonomous
vehicles. Now, Elon Musk has long been
vocal about these regulatory hurdles, criticizing patchwork
laws that restrict growth. Now, Musk's artificial
intelligence startup XAI is also benefited from the post election
momentum. A recent funding round valued
the company at $50 billion, more than doubling its valuation
since May. And report suggests that Trump's
victory increased investor interest, further boosting
Musk's wealth. XA is rise adds another feather
to Musk's cap as the entrepreneur continues to
diversify his holdings. His wealth, primarily derived
from his 13% stake in Tesla and 42% stake in SpaceX, has grown
by 35% since the election, making an increase of $119
billion in 2024. Now, SpaceX is reportedly
preparing for a private share sale that could value the
company at over $250 billion. Trump's public support of
SpaceX, including his attendance at the last Starship test
flight, shows that Musk and Trump can work together on
business ventures and also work together with the incoming
administration. Now, Spacex's dominance in space
exploration remains unmatched, and the potential share sale
could add another $18 billion to Musk's net worth.
Now, Musk's alignment with Trump has become increasingly
apparent. In the final weeks of the
presidential campaign, Musk campaigned alongside Trump in
key battleground states, contributing more than $170
million to a pack supporting the Republican candidate.
The partnership appears to extend beyond politics though.
Musk has been tapped to Co lead a newly created Department of
Government Efficiency under Trump's administration, or DOGE.
Now, Musk has stated that his role in the department will
focus on reducing bureaucratic barriers, a mission consistent
with his frustration over regulations affecting Tesla self
driving vehicles and also Spacex's Starship launches.
Now, Trump's administration has also signaled its intention to
rollback emission standards and eliminate EV tax credits
introduced during the Biden presidency.
While this could hurt legacy automakers, Tesla, which is less
dependent on federal subsidies, may find itself in an ever
stronger competitive position now.
Tesla's dominance and EV market remains a cornerstone of why
Elon Musk is so wealthy. The company's stock is just
below 15%, its all time high of 407 dollars achieved in November
of 2021. And over the past six months,
Tesla shares have nearly doubled, bolstered by strong
quarterly earnings and investor optimism about its future
prospects under the Trump administration.
Now, Musk's fortune is inextricably linked to Tesla's
success, with the automaker contributing $145 billion to his
net worth. And this connection shows the
importance of Tesla and the ongoing innovation and market
expansion of key drivers of Elon's financial empire.
Now, Musk's wealth not only cements his status as the
world's richest person, but also amplifies his influence in
shaping technological and regulatory policies.
With a fortune now exceeding 80 billion dollars more than the
next wealthiest individual, which is the Oracle chairman
Larry Ellison, Musk's financial and political clout is
unparalleled. He's very powerful, most
powerful person in the world other than the president,
probably. His influence extends beyond
Tesla and SpaceX. Musk's acquisition of the social
media platform X and recent comments about potentially
buying MSNBC shows that he's ambitious to extend his
footprint into traditional media and communications.
Now he's humorous, he's a funny guy.
It's often showcased on X and other social medias, and it
keeps his eye on the public, further solidifying his persona
as both a tech mogul and a cultural figure.
Now, the record-breaking growth of Musk's fortune raises
questions about the interplay between businesses and politics.
While his alignment with Trump may provide new opportunities
for his company also ties his ventures to the fortunes of the
administration. And as Tesla pushes towards its
goal of leading the autonomous vehicle revolution, and as
SpaceX prepares for future milestones like sending a
Starship to Mars within a few years from now, Musk's
trajectory seems poised for continued expansion.
However, his wealth and influence also pays him under
intense scrutiny, particularly as he assumes the government
role aimed at reducing regulatory barriers.
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