POLITICS
Musk wealth soars after U.S. election
February 20, 2025 - Elon Musk’s companies have surged in value by $613m since the U.S. election in November. Musk’s net worth now stands at $397bn -- an increase of more than 50% -- reflecting the billionaire’s unprecedented political power.
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Tesla was the biggest winner among Musk’s companies in the immediate aftermath of the election with shares peaking in December, since falling by 25% to $1.17tn. Space X, founded in 2002 by Musk, became the world’s most valuable tech startup in November, with a $350bn price tag.
Musk’s AI startup, xAI, released its Grok-3 chatbot this month, and is in advanced talks with Dell Technologies Inc. to secure more than $5bn of server capacity to train and operate its AI models.
While X (formerly Twitter) have opened talks to raise $44bn -- original purchase price -- to relieve platform’s debts.