This has never happened before in history: the richest man in the world has updated his wealth record

The American billionaire and richest man in the world Elon Musk has become even richer. Thanks to the growth of Tesla shares and the inflow of investments in his AI startup xAI, his fortune has reached $348 billion for the first time in history.

According to Bloomberg, many of Musk's companies have risen sharply in value since Republican Donald Trump won the U.S. presidential election. The billionaire was one of his most ardent supporters and generous donors to his campaign.

In particular, on November 22, shares of the world's largest electric car manufacturer Tesla rose by 3.8%, and since November 4 (the day before the election) - by 45%, increasing the company's market value by $350 billion. This reflects the Trump team's intention to focus on the development of self-driving cars in the United States. The production of such cars and trucks is a central element of Tesla's future strategy - according to Musk, the Cybercab robotaxi without steering wheel and pedals could go into production as early as 2026.

In addition, the value of xAI has more than doubled since the last round of investment in May. Market analysts believe that Trump's victory helped attract the interest of new investors.

On November 20, Trump joined Musk at the sixth test of his SpaceX space company, which saw the launch of the Starship spacecraft on a Super Heavy rocket. Currently, SpaceX is going to hold a private sale of shares, after which its value may exceed $250 billion.

Musk will also become the head of the new Department of Government Effectiveness (DOGE) in the Trump administration. The purpose of the institution will be to reduce bureaucracy and regulation.

According to the Bloomberg Billionaires Index, Musk has updated his personal wealth record, which has stood at $340.4 billion since November 2021, which is 35% more than it was before the election.

Earlier, OBOZ.UA reported that Elon Musk donated $75 million to the America PAC political action committee. Through this organization, every American could receive $47 if they encourage a person in the key states for the presidential election to sign.

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