Even though he might be the richest man in the world, we question how long Elon Musk will be able to keep that title if things continue the way they are. Following a devastating one-day loss of $29 billion, Musk’s current net worth still sits at an impressive $324.3 billion – making him well over $100 billion richer than Jeff Bezos.
As well as overtaking Bezos to become the richest person in the world in January 2021, Musk has continued to break milestones as the first person in the world to be worth over $300 billion and then $400 billion.
Still, he’s also entered the Guinness World Records as the first person to lose $200 billion thanks to declining Tesla stock values in December 2022. While there are fears that history could be about to repeat itself thanks to Tesla’s recent stock stumbles, Musk is keen to downplay this bump in the road and is looking ahead at a brighter future.
Advert
President Donald Trump is doing his best to support his so-called ‘First Buddy’, and by turning the White House into its very own Tesla showroom, there’s been a much-needed boost to the company’s fortunes.
Musk has vowed to ramp up Tesla production in the USA (Andrew Harnik / Staff / Getty)
Added to this, Musk has vowed to increase Tesla production in the USA. Posting on X, the divisive tech mogul wrote: “In support of the policies of President Donald Trump and to demonstrate our confidence in the future of the United States, Tesla commits to doubling vehicle production in the US within 2 years!”
This comes after the POTUS vowed to hand over a check for a shiny red Tesla Model S – even though he won’t be able to drive it.
Musk’s announcement comes after President Trump promised to push for more domestic manufacturing. In a White House post saying that things are on the up, the Trump administration claims it has gained 10,000 manufacturing jobs during Trump’s first full month in office. The release says this is in contrast to the Biden administration losing 9,000 manufacturing jobs per month during its final year.
The automobile industry is said to have especially flourished as it gained 8,900 new jobs in February 2025. If Musk does deliver on his Tesla uptick, the brand could be key in adding more jobs.
Skeptics remain unconvinced, and pointing out how Tesla’s Fremont Factory is supposedly being worked at capacity, Musk might have to look to the Gigafactory Texas complex.
Tesla’s Q4 update letter confirms the Freemont Factory can produce 650,000 vehicles a year, and while the Gigafactory is currently at 375,000, it would have to increase its output to reach the mythical 2 million.
The numbers might sound impressive, but remember how Musk previously hyped Tesla’s ability to reach Cybercab volume production in 2026. He unveiled plans to produce at least 2 million Cybercabs a year during a Q3 2024 earnings call, so to reach these supposedly ‘new’ targets, he simply has to continue as planned.
Some think the numbers don’t add up, but with a new Tesla Trump banging his drum for the EV brand, this could be an important turning point for Tesla…or mark the start of its continued downfall.