Tesla CEO Musk's net assets reached a record high on Friday, reaching $347.8 billion.

According to the Bloomberg Billionaires Index, Musk is currently the richest person in the world, with his net worth surpassing the previous high of $340.4 billion set in November 2021. Since the day before the US election, his wealth has grown by 35%, with over two-thirds coming from Tesla stocks and options.

This is thanks to Tesla's continuous stock price rise and a new round of financing for his AI startup xAI, with a valuation of $50 billion.

Since Trump was elected president, the value of Musk's various business projects has been soaring, making him a frequent target of political attention. Some even refer to him as Trump's 'first best friend'.

On Friday, Tesla closed up 3.8% at $352.56, reaching a new high since the first half of 2022, reflecting the market's continued optimism towards the Trump team's plans to promote autonomous driving cars and electric vehicle subsidies. These plans may give Musk's company a competitive edge over peers. Since the day before the November 4th election, the stock has risen by a total of 45%, adding approximately $350 billion in market cap.

Meanwhile, xAI's valuation has doubled since the last round of financing in May. In addition, Trump attended Musk's SpaceX launch event this Wednesday. The company is discussing another round of private equity sales, with an expected valuation exceeding $250 billion.

53-year-old Musk formed an alliance with Trump in the final stages of the election, campaigning together in key swing states and personally donating over 0.17 billion USD to the Political Action Committee (PAC) supporting this Republican candidate. After a successful campaign, Musk and others will jointly lead a newly established Department of Government Efficiency, with Musk stating that he will use this department to reduce bureaucracy and regulations.

Current federal policies allow Tesla and other auto manufacturers to deploy only 2,500 fully autonomous vehicles annually. During Tesla's recent earnings call, Musk complained about scattered regulations at the state level (such as in California) limiting the company's ability to scale up autonomous driving technology.

On Monday, members of Trump's transition team informed advisors that they plan to prioritize establishing a federal framework for autonomous vehicles as one of the Transportation Department's priorities, which could promote wider deployment of driverless vehicles. This is undoubtedly bullish for Tesla, as the promotion of such cars and trucks is central to its future global strategy. Musk has stated that Tesla's robot taxi (Cybercab) without a steering wheel and pedals may cost less than 0.03 million USD and "might" enter production in 2026.

Moreover, Trump also leans towards canceling Biden administration's introduced maximum 7,500 USD electric vehicle tax credit and reducing emission regulations. According to a Bloomberg report, this would have a greater impact on traditional auto manufacturers, while Tesla's reliance on federal support for sales is lower than many competitors, resulting in a relatively smaller impact.