Elon Musk has seen a significant boost to his wealth after Donald Trump’s recent victory in the U.S. presidential election. Musk, who publicly supported Trump during the election and was active in efforts to back him, gained a substantial $20 billion in net worth following the announcement of Trump’s win. Reports indicate that this increase is largely attributed to a surge in Tesla’s stock value.
Elon Musk’s Wealth Jumps by $20 Billion Post-Trump Victory
According to the Bloomberg Billionaires Index, Musk’s net worth now stands at approximately $290 billion, while Forbes estimates it at around $285 billion. Much of Musk’s wealth is tied to Tesla’s market performance, with additional contributions from companies such as X and SpaceX that add to his financial strength.
To elaborate further, following Trump’s election victory, Tesla’s market value rose by around $120 billion, pushing the company’s valuation past the $900 billion mark. Musk, who has reaped the benefits of supporting the new president, notably made headlines by donating roughly $120 million to Trump’s campaign efforts.
Trump, in turn, praised Musk after the election win, calling him a “super genius.” He also acknowledged the significant role played by Musk’s companies, including SpaceX and Starlink, in strengthening national resilience.
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