ALBAWABA - Elon Musk, the American billionaire, and CEO of Tesla, SpaceX, Neuralink, and The Boring Company, increased his net worth to over $300 billion in 2024.
Musk’s wealth exceeded $300 billion in 2024
The significant boost in Musk’s wealth came amid plans by the Trump administration to support his businesses, following Trump's recent promise to ban Chinese self-driving electric cars, which are seen as major competitors to Tesla.
It is worth noting that Musk's wealth increased by nearly $50 billion since the beginning of 2024, reaching approximately $304 billion. Most of these gains came from the strong performance of Tesla and SpaceX shares, according to the Forbes Billionaires List.
The CEO of Tesla contributed with over $130 million to support Trump’s campaign. (Shutterstock)
Trump aligning with Musk
Donald Trump, the elected US president, recently stated reconsidering his stance on green energy, expressed support for several of Musk's projects, including SpaceX’s and Mars mission, and hinted at the possibility of Musk taking a role in the new US administration.
"I'm for electric cars," Trump said at a rally in Atlanta. "I have to be, because Elon endorsed me very strongly."
Musk supports Trump
Notably, Musk showed significant political support for Trump in the recent US presidential election. The CEO of Tesla contributed with over $130 million to support Trump’s campaign.
