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. Hey, thank you so much for listening today.
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