Elon Musk’s net worth increases instantly with the win of Donald Trump from after the electoral victory of the Republican candidate. The hike is seen in many billionaire’s net worth. In same case, Elon Musk’s net worth sky-rocketed since Wednesday. Elon Musk’s net worth increases by almost $20 billion and surpassing the mark of $300 billion after nearly three years.
The main gain of the wealth of the richest man is from its electric vehicle company Tesla’s strong performance in the stock share market. The share value of Tesla has increased by nearly 28% since Tuesday. As of today, Tesla’s highest share price was recorded at $328.71.
According to some reports, Musk spent around $130 million on supporting Trump’s campaign, which has made backing Trump a major focus lately.
Musk used his social media platform, X, to promote his candidate of choice sharing misinformation in the process.
The result of all the efforts of Elon Musk is seen being paid back to him with the few days of Trump winning the Presidential election.
“A star has emerged. Elon,” Trump remarked onstage at his Mar-a-Lago resort, expressing gratitude to the world’s wealthiest person for dedicating two weeks to campaigning in Pennsylvania.
There has always been a good relation between both of them. In his victory speech, Trump took the time to praise Musk’s company SpaceX and to thank him for providing Starlink Wi-Fi to areas in the U.S. hit by hurricanes. All this gives Musk good reason to hope that a second Trump term could bring big benefits to him and his businesses.
Speculation can be made that Elon Musk will have an environment to grow his businesses even more. Some promises of Trump directly benefit and promote Elon’s businesses. Like, Trump has promised to ban Chinese self-driving electric cars, which are a major competitor for Musk’s Tesla robotaxi.
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