As noted, his wealth amounted to $348 billion, reaching a historic high. The previous record was $340.4 billion, which was also set by Musk in November of 2021.

 For your information, Musk's closest competitor, Amazon founder Jeff Bezos's wealth amounts to $219 billion.

 The increase in Musk's wealth is linked to the success of his companies, especially Tesla and an artificial intelligence startup. Additionally, Trump's victory in the US presidential election played a crucial role in the businessman's success and in the increase in the value of his companies. Musk was one of the few business leaders who openly supported the Republican candidate.