Elon Musk’s net worth climbed to a new record on Thursday, reaching about $788 billion as Tesla’s stock jumped. The gain followed Musk’s comments about the rapid expansion of Tesla’s robotaxi service.
According to Forbes’ Real-Time Billionaires List, Musk’s fortune stood at roughly $788.1 billion at market close. Tesla shares rose more than 4% after Musk said the company’s robotaxi fleet would be “very widespread” in the U.S. by the end of the year.
Musk made the remarks while attending the World Economic Forum in Davos, Switzerland. Tesla plans to expand its robotaxi service after launching the fleet in Austin, Texas, in June 2025.
Tesla stock climbed about 4.2% on Thursday, trading above $449. The move followed a nearly 3% gain the previous day, adding momentum to the rally.
The stock surge added close to $13 billion to Musk’s net worth in a single day. He remains the world’s richest person, well ahead of Google cofounders Larry Page and Sergey Brin, according to Forbes estimates.
Tesla is set to report fourth-quarter earnings on Jan. 28. Earlier this month, the company said vehicle deliveries fell 16% from a year earlier, allowing China’s BYD to overtake Tesla as the world’s largest electric vehicle maker.
Musk’s wealth has risen sharply over the past year. Gains were driven by a higher valuation for SpaceX, a restored Tesla compensation package, and new funding for his AI company, xAI.
With several major businesses expanding at once, analysts say Musk could soon approach the $800 billion mark. Some estimates suggest his fortune could eventually reach $1 trillion if Tesla meets future growth targets.
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