File photo.
International Desk //

American billionaire Elon Musk had already built a mountain of wealth. After Donald Trump was elected the next president of the United States, his wealth is now growing at a rocket rate.

Elon Musk is breaking his own record as the richest man and it doesn’t seem like he can be stopped.

After Trump’s victory in the November 5 election, Musk’s total wealth has been added to $70 billion.

According to the Bloomberg Billionaires List, he is now the richest man in the world. His wealth has exceeded $340 billion. The list was published on Friday.

Musk is the CEO of several companies, including electric car manufacturer Tesla. Tesla’s share price has increased by 40 percent after Trump’s victory. Shares of his AI company XAI have also rocketed.

Musk’s investment in AI has taken his wealth to new heights.

According to the Wall Street Journal, the share price of XAI has more than doubled in the past few weeks and reached $50 billion. Musk owns 60 percent of the company.
Before the stock market closed on Friday, Musk’s total wealth was a record $321.7 billion. This is the highest in three and a half years.

Musk’s wealth was $323 billion in November 2021.

Many believe that Elon Musk’s influence on the Trump administration will create a favorable environment for Tesla.

Musk has openly supported and funded Trump since the beginning of the election campaign. Very happy with Musk’s influence and his economic success, Trump made him the head of his new department, the ‘Department of Government Efficiency’. Musk has another head with him.

According to the list of the famous US magazine Forbes, Musk’s total wealth has increased from $200 billion to $315 billion in six months. His wealth is $80 billion more than his closest rival, Larry Ellison.