Elon Musk Crowned World’s Richest Backed By Trumps Victory

The billionaire and the CEO of the luxury automaking company Tesla as well as the space startup SpaceX, Elon Musk has claimed the title of the world's richest person marking his way to the top of the Hurun Rich List for the fourth time in five years.

Musk's net worth has surged by a whopping 82% or $189 billion reaching a total of $420 billion.

One of the factors that have contributed to Musk's recent wealth is the rise of Tesla stocks backed by United States President Donald Trump's support.

Lately, Trump has also been seen buying a new Tesla to drive Tesla sales and to support Elon Musk's efforts a the White House. Additionally, Trump getting re-elected to office is another factor that oft gets attributed to Elon Musk as the 53-year old billionaire had supported the President's campaign extensively, both online and offline. Analysts are calling it the 'Trump Effect'.

Other billionaires in the list to have benefited from Trump's victory include Meta's Mark Zuckerberg, Amazon's Jeff Bezos, and Nvidia's Jensen Huang.

How Did Tesla's Stock Price Get Affected?

Tesla stock price rally was seen as a consequence of investor confidence that was triggered by Trump's victory, with Elon Musk emerging as a key beneficiary of the financial windfall, the Hurun report said.

The stock was eventually volatile as there was rationalization in the market around the sudden boost. Musk's fortune has taken a hit, losing around $100 billion, since January 15, 2025.

Tesla's market capitalization has also declined by $700 billion as investors are now concerned about increasing competition from Chinese EV manufacturers as well as Musk's political activism.

Despite these factors, Musk has emerged as the richest individual in the world.

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