Elon Musk’s Net Worth Soars to $335 Billion After Tesla Rally
Elon Musk’s fortune skyrocketed by $18.2 billion on Thursday, April 24, driven by a strong rally in Tesla Inc.’s shares, which surged nearly 10% by the end of the trading day.
As per the Bloomberg Billionaires Index, Musk’s net worth now stands at an estimated $335 billion.
Tesla’s stock closed at $284.95, marking a significant 9.8% increase — the company’s largest daily gain in several months. This surge was fueled by renewed investor confidence following better-than-expected quarterly results and a series of analyst upgrades.
Despite this one-day gain, Musk’s wealth remains down by approximately $97.7 billion year-to-date, reflecting a 22.6% decline from January highs.
Meanwhile, Musk’s newly merged artificial intelligence venture, xAI Holdings, is reportedly in discussions to raise around $20 billion from investors. The funding aims to support the growth of both xAI and Musk’s social media platform X, previously known as Twitter before being taken private in 2022.
A portion of the new capital is expected to help alleviate the significant debt Musk incurred during the Twitter acquisition. If successful, the deal would rank as the second-largest funding round for a start-up on record, trailing only OpenAI’s $40 billion raise earlier this year according to data provider PitchBook.
Tesla remains the cornerstone of Musk’s vast fortune, with the billionaire controlling approximately 13% of the publicly listed company. He also holds around 304 million stock options linked to a controversial 2018 compensation package. Despite a Delaware court’s move earlier this year to void the award, a decision reaffirmed after a shareholder vote, the options are still factored into wealth calculations pending an outcome on appeal.
Besides Tesla and xAI, Musk’s financial interests span diverse sectors. He owns roughly 42% of SpaceX, valued at nearly $350 billion post a tender offer in late 2024. His portfolio also includes Neuralink and The Boring Company, further diversifying his influence across technology and infrastructure sectors.
Musk’s wealth surge comes after a dynamic year where he expanded his presence across technology, aerospace, artificial intelligence, and politics. Notably, he was the largest private donor to Donald Trump’s 2024 presidential campaign, contributing over $277 million. Following Trump’s election victory, Musk was appointed head of the newly established Department of Government Efficiency.
However, Musk’s financial strategy carries substantial risks. Approximately 58% of his Tesla shares are pledged as collateral for personal loans, with borrowing capped at $3.5 billion per regulatory filings. While this provides liquidity, it also exposes Musk to margin calls if Tesla’s stock price were to sharply decline.
At 53 years old, Musk shows no signs of slowing down. Recent accomplishments include Neuralink’s first human brain implant, SpaceX’s successful retrieval of its Super Heavy rocket booster, and the unveiling of new AI initiatives under xAI Holdings.
