Elon Musk net worth rises $26-B in a day after Trump victory
2024-Nov-09 19:00
Elon Musk (L) and US President-Elect Donald Trump (PNA)
BAKU – Elon Musk's net worth soared by a staggering USD26 billion after Donald Trump's recent victory in the US presidential election, ignited by a rally in Tesla shares, India Today reported.
The single-day jump has elevated Musk's fortune to USD290 billion, bringing him closer to an unprecedented USD300-billion mark.
Just this year, Musk's net worth has increased by USD60 billion.
The boost came as Tesla's shares climbed 14.75 percent to USD288.53 during after-hours trading, with Trump's pro-business policies seen as a favorable backdrop for Tesla and Musk's ventures.
Musk, the world's wealthiest individual and an ardent supporter of Donald Trump, became a focal point during Trump's victory rally in Florida.
Trump praised Musk in front of a massive crowd, hailing him as "a star."
Elon Musk's active support for Trump has been evident throughout the campaign, with the Tesla and SpaceX CEO utilizing his social platform, X (formerly Twitter), to galvanize supporters and even contribute USD120 million toward Trump's re-election bid.
The close association with Trump's pro-business stance has lifted investor confidence in Tesla's future, especially regarding regulatory and tax-related outlooks under the new administration. (PNA)