Elon Musk's Wealth Rises After Trump Victory

Following Donald Trump's victory in the U.S. presidential election, Elon Musk's wealth surged by approximately $13-20 billion as Tesla shares soared by 12-13% in early trading, reaching a market value above $900 billion for the first time since July 2023. Musk, who owns about 13% of Tesla, benefitted significantly from the stock price increase, which was fueled by investor optimism about Trump's policies and Musk's strong support for the former president, including nearly $120 million in campaign contributions. In his victory speech, Trump praised Musk, calling him a 'super genius' and highlighted his achievements with SpaceX and Tesla. Analysts noted that while Trump's presidency may curb electric vehicle support, Tesla could thrive due to reduced competition and regulatory hurdles. Overall, Musk's financial gains reflect a complex interplay between political support and market performance in the EV sector.