Elon Musk’s fortune soared by $18.2 billion on Thursday, April 24, following a strong rally in Tesla Inc.’s shares, which closed nearly 10% higher on the day.
According to the Bloomberg Billionaires Index, Musk’s net worth now stands at an estimated $335 billion.
Shares of Tesla, where Musk serves as chief executive, ended the trading session at $284.95, marking a 9.8% rise — the company’s largest daily gain in several months.
The surge was driven by renewed investor confidence after Tesla posted better-than-expected quarterly results, alongside a series of analyst upgrades.
Despite the impressive one-day gain, Musk’s wealth remains down by about $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 talks to raise around $20 billion from investors, Bloomberg reports.
The funding is intended to bolster the growth of both xAI and Musk’s social media platform X, formerly Twitter, which he took private in 2022.
A portion of the new capital is expected to help reduce the substantial 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 immense fortune, with the billionaire controlling roughly 13% of the publicly listed company.
He also holds approximately 304 million stock options linked to a controversial 2018 compensation package. Although a Delaware court earlier this year moved to void the award, a decision reaffirmed after a shareholder vote, the options continue to be included in wealth calculations pending an outcome on appeal.
Beyond Tesla and xAI, Musk’s financial interests span a wide range of sectors. He owns about 42% of SpaceX, valued at nearly $350 billion following a tender offer in late 2024. His portfolio also includes Neuralink and The Boring Company, further diversifying his influence across technology and infrastructure sectors.
The latest rise in Musk’s wealth comes after a turbulent year in which he expanded his footprint across technology, aerospace, artificial intelligence, and politics.
Notably, Musk 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 created Department of Government Efficiency.
Nonetheless, Musk’s financial strategy carries considerable risks. Approximately 58% of his Tesla shares are pledged as collateral for personal loans, with the borrowing capped at $3.5 billion, according to regulatory filings. While this approach provides liquidity, it also exposes Musk to margin calls if Tesla’s share price were to fall sharply.
Now aged 53, Musk shows no signs of slowing down. Recent achievements include Neuralink’s first human brain implant, SpaceX’s successful retrieval of its Super Heavy rocket booster, and the announcement of new AI initiatives under xAI Holdings.
