Musk once again topped the list of the richest people on the planet

The fortune of entrepreneur and billionaire Ilon Musk has reached a record $348 billion, so he topped the list of the richest people on the planet according to Bloomberg. The agency reported about it on November 23.

Thus, the entrepreneur beat his own record, set in 2021. Then his fortune was estimated at $340.4 billion.

"Tesla shares rose 3.8% on Friday, reflecting continued optimism that [newly elected U.S. Republican President-elect Donald] Trump's team's plans for unmanned cars and subsidies for electric vehicles will give Musk's company an edge," the site said.

The entrepreneur has overtaken by more than $120 billion the second richest man, Amazon founder Jeff Bezos.

According to the publication, many of Musk's businesses have skyrocketed in value after Trump's election victory propelled the entrepreneur into the political spotlight. However, despite this fortune for Musk, Tesla shares remain about 14% below their all-time high from late 2021, NDTV adds.

Earlier, on November 13, Trump announced that American entrepreneurs Musk and Vivek Ramaswamy will head the US government's new efficiency department.

Musk himself later announced plans to reform the US state apparatus and cut the country's spending. He said that the new Department of Government Efficiency in the US (DOGE) will focus on identifying "thousands" of regulations that Trump will have to repeal. He also added thatUS military spending will be improved with the new DOGE department.

The election for the 47th president of the United States was held on November 5. In the national vote, Trump received 51% of the vote, while Democratic candidate Kamala Harris received 47.4%. Later, the politician, speaking to supporters, called himself the 47th President of the United States and said that his goal as head of state considers the end of military conflicts in the world.