Elon Musk has added an eye-watering $12.4 billion to his fortune in just one week, following a high-profile tour of the Middle East alongside former US President Donald Trump. The visit, which combined diplomatic showmanship with hard-nosed business, saw Musk meeting top officials, sovereign wealth funds, and energy executives across Saudi Arabia, the United Arab Emirates, and Qatar.
According to Forbes, the surge in Musk’s net worth during the seven-day period was the largest gain of any billionaire tracked that week. The dramatic increase came as investor sentiment around Musk-led companies soared, particularly Tesla and Starlink, both of which are rumoured to have secured substantial backing or market access as a direct result of the tour.
The delegation’s first major stop was in Riyadh, where Musk reportedly met with Crown Prince Mohammed bin Salman to discuss regional electric vehicle infrastructure and AI-powered energy systems. Tesla is believed to have signed a preliminary agreement to help expand Saudi Arabia’s EV grid, while SpaceX is thought to be in talks to provide Starlink internet to remote regions under new state-backed contracts.
In Abu Dhabi, Musk attended a private investment forum hosted by Mubadala Investment Company, during which insiders claim that plans for a joint AI research initiative were presented. Musk’s growing interest in AI chip design—through xAI and its integrations with Tesla’s self-driving efforts—reportedly piqued the interest of several Gulf tech funds eager to diversify away from oil.
While the public messaging focused on innovation and cooperation, the optics of the trip have drawn scrutiny. Musk’s increasingly visible partnership with Trump, who is seeking a political comeback in 2025, has raised eyebrows among some investors and political commentators. Critics argue that Musk risks alienating consumers and regulators with such overt political alignment, though others contend that it reinforces his strategic positioning as a global power broker.
The market response has so far been resoundingly positive. Tesla shares climbed over 10% during the week, driven by investor optimism about the company’s Middle Eastern prospects and a broader rebound in tech stocks. That rally, combined with fresh estimates of Starlink’s valuation amid potential new deals, helped boost Musk’s personal fortune to over $418 billion.
Observers note that this kind of diplomatic-commercial hybrid trip represents a new mode of influence for billionaire CEOs. Musk, already the richest person in the world, is leveraging his technological empire not just in markets but in international policy spaces. His ability to secure capital, policy favour, and headline deals through direct government access is unparalleled among his peers.
For Trump, the visit offered an opportunity to demonstrate his continued relevance on the world stage, even without holding office. For Musk, it may have set the stage for billions more in future deals—and reaffirmed his place as a central figure not just in business, but in geopolitics.
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