Post Donald Trump's victory, Elon Musk gains $13 billion in a day, reaches $300 billion net worth 每 here's how
It's not just Donald Trump who has gained from Elon Musk's support〞it's vice versa as well. Just days after Election Day, Musk's net worth soared to $300 billion, thanks to a surge in Tesla's market value, as reported by Forbes.
On Friday, Tesla's market value surpassed $1 trillion for the first time since early 2022, driven by a strong rally after Donald Trump, backed by Elon Musk, secured a second presidential term.?
According to Forbes, the electric car company's stock surged by over 10% to nearly $330 in afternoon trading, ultimately closing up 8% at $321.?
This increase extended a three-day upward streak, lifting Tesla's value and propelling broader stock market gains following Trump＊s election victory.
This surge brought Tesla's valuation to $1 trillion, a level it hasn＊t reached since April 2022.?
Over the past six months, Tesla's market value has nearly doubled, significantly boosting Musk's net worth, which crossed $300 billion on Friday for the first time in over two years.?
The Tesla stock rally added approximately $13 billion to Musk's wealth on Friday, solidifying his lead over Oracle's Larry Ellison by a margin of $70 billion.
As Tesla's largest shareholder, Musk holds a 13% stake in the company valued at around $130 billion, plus an additional 9% in stock options, pending a Delaware court appeal.?
In a recent analysis, Wedbush's Dan Ives outlined potential advantages a Trump presidency could offer Tesla, such as the possible elimination of federal tax credits on electric vehicles, which could create a competitive edge for Tesla as smaller EV makers struggle to adapt.?
Additionally, tariffs on Chinese imports could reduce competition from lower-cost Chinese EVs, and Trump might expedite regulatory approvals for Tesla＊s self-driving technology, potentially accelerating its market position.
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