Elon Musk has become the richest person in history.

 Elon Musk has become the richest person in history.

Elon Musk, CEO of electric car maker Tesla and the wealthiest person in the world, has surpassed all previous records with his personal fortune now reaching $348 billion. This milestone was reported by The News International based on the Bloomberg Billionaires Index.

Musk has now cemented his place as the richest person in history. His wealth has surged alongside the rise in Tesla's share price, which has been buoyed by the victory of Republican leader Donald Trump in the U.S. presidential election.

Read More

Since the election, Tesla's stock has risen by 40%. Just last Friday, it gained 3.8%, reaching $352.56 per share—the highest price in more than three years. This surge has added $7 billion to Musk's wealth, pushing his net worth past the previous record set in November 2021, when it stood at $320.3 billion.

Investors have grown more confident in Musk due to his close ties with the newly elected President Trump. Earlier this year, Musk endorsed Trump and contributed $1 billion to his campaign. Trump is expected to appoint Musk as chairperson of a new government department focused on "Government Efficiency." Biotech entrepreneur Vivek Ramaswamy will also join Musk in this role.

Beyond Tesla, Musk's ventures in artificial intelligence and space exploration have further fueled his financial growth.

Musk's fortune now exceeds that of Larry Ellison, the second-richest person in the world, by $8 billion. Ellison's net worth stands at $235 billion.

While Musk is now the richest person in history, Tesla's share price has yet to reach the record highs of 2021. Currently, Tesla's stock is about 14% lower than it was during its peak in 2021.

Read More