Elon Musk has reached a record net worth of $648 billion, solidifying his position as the wealthiest person in the world, according to the Bloomberg Billionaires Index. His wealth surge this year—amounting to $216 billion—exceeds the entire fortune of LVMH CEO Bernard Arnault, who is worth $205 billion. In just two days, Musk’s net worth climbed by $178 billion, a gain unmatched in modern financial history. The surge is driven primarily by a sharp rise in Tesla’s stock price, which hit an all-time high of $490 on Tuesday. This rally followed news that Tesla is testing driverless robotaxis on streets in Austin, Texas—an advancement that has energized investors. Musk owns roughly 12% of Tesla, a stake now valued at approximately $200 billion. However, the most significant contributor to his wealth spike is SpaceX, whose valuation reportedly doubled since summer to $800 billion. This estimate stems from a recent secondary share sale by the aerospace company ahead of a potential initial public offering next year. Musk, who leads both Tesla and SpaceX, now holds a personal fortune that surpasses the market capitalizations of major corporations including Oracle, Mastercard, and Johnson & Johnson—each valued at over $500 billion. Musk’s wealth is more than double that of second-place Larry Page, co-founder of Alphabet, who is worth $264 billion after a year-to-date gain of $96 billion. He is also more than four times as rich as Warren Buffett, whose net worth stands at $150 billion, with much of his wealth already committed to philanthropy. Musk’s recent gains have also brought him close to Visa, which has a market value of $660 billion. His rise follows a volatile period earlier in the year, when Tesla’s stock nearly halved between mid-January and mid-March. This downturn was fueled by public scrutiny of Musk’s involvement with the Department of Government Efficiency (DOGE), which raised concerns among investors about his focus. He briefly lost the top spot on the rich list to Oracle co-founder Larry Ellison in September, but Tesla’s stock rebounded strongly, driven by growing excitement around AI. Musk has been a key figure in the AI boom, investing heavily in AI infrastructure to advance Tesla’s autonomous driving technology and its humanoid robot, Optimus. While some, like investor Michael Burry of "The Big Short" fame, warn of a potential tech bubble driven by excessive spending on chips and data centers, the broader market continues to reward AI-focused innovation. Musk’s wealth gains mirror those of other tech titans including Jeff Bezos, Sergey Brin, Mark Zuckerberg, and Jensen Huang. Looking ahead, Musk could become the world’s first trillionaire if he meets milestones tied to his 2023 pay package approved by Tesla shareholders. The plan includes doubling his stake in Tesla over the next decade—potentially increasing his ownership to around 24%—if he achieves targets such as selling 1 million Optimus robots and boosting Tesla’s adjusted profits from $17 billion to $400 billion.