Musk's wealth now exceeds the market value of major US companies like Costco, Home Depot, and Netflix. His rapid financial ascent is underscored by his net worth being less than $170 billion in April and about $25 billion five years ago. Tesla's valuation has also dramatically increased from less than $100 billion during the 2020 Covid crash. Musk's other ventures include xAI, Neuralink, The Boring Company, and X Corp. His involvement in Donald Trump's campaign and advisory role has further fueled positive sentiment around his businesses.
Key takeaways:
```html
- Elon Musk's net worth has surged to $447 billion, making him nearly $200 billion richer than Jeff Bezos and worth more than Costco.
- Musk's wealth increase is largely due to a 6% jump in Tesla stock and a rise in SpaceX's valuation to $350 billion.
- In a single day, Musk added $63 billion to his fortune, marking the largest one-day gain in the Bloomberg Billionaires Index's history.
- Tesla's market value has soared to nearly $1.4 trillion, driven by investor optimism in its potential use of artificial intelligence.