Billionaire Elon Musk’s companies have gained a combined $613 billion in value since the US presidential election, according to data compiled by Bloomberg.
First electric vehicle maker Tesla Inc. surged, then his space company SpaceX became the world’s most valuable tech startup and artificial intelligence company xAI nearly doubled its valuation.
Now, Musk’s social media company X is looking to leverage the billionaire’s unprecedented political power. Recently, banks unloaded $4.74 billion of X debt at par, borrowings that had previously been spurned by investors.
Even after retreating from an all-time high in December, Tesla is still worth nearly $400 billion more than it was the day before the election.
Since then, Tesla’s stock has fallen around 25%, but the company is still worth about $1.17 trillion.
Meanwhile, a flurry of new funding rounds for Musk’s private companies, including X, SpaceX and xAI, will add over $220 billion in combined value if investments in X and xAI close at the reported size, reported Bloomberg.
Elon Musk’s Net Worth
According to Bloomberg Billionaires Index, Elon Musk’s net worth is $397.1 billion as of Tuesday’s close, higher more than 50% since the US election,
And if all the funding rounds close as planned, he’d be worth over $420 billion.
In the immediate aftermath of the US election, Tesla was the biggest winner among Musk’s companies.
On December 17, the EV maker’s shares nearly doubled to an all-time high, boosting Musk’s fortune to a peak of $486.4 billion.
xAI released its Grok-3 chatbot on Monday and is in advanced talks with Dell Technologies Inc. to secure more than $5 billion of server capacity to train and operate its AI models.
The AI startup had raised money at a more than $40 billion valuation in the weeks after the US election.
Currently, it is looking for another deal that would nearly double its value.
