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Elon Musk's wealth soars past $300 billion as Tesla shares climb on the back of Trump's election win

Business Insider

Business Insider · 8m ago

Elon Musk's wealth soars past $300 billion as Tesla shares climb on the back of Trump's election win

Elon Musk's net worth has surpassed $300 billion, making him the wealthiest person in the world. His fortune has increased by $50 billion since November 5th, largely due to the stock market gains of Tesla following Trump's election win. Tesla's stock has risen by 28% in just a week, reaching a trillion-dollar market valuation. Analysts believe that Trump's win could benefit Tesla further, as the company has an advantage over competitors when it comes to potential changes in tax credits and incentives for electric vehicles. Additionally, Musk's ventures like SpaceX could benefit from large contracts with the Department of Defense during Trump's second term.

Related News

Elon Musk is about to find out what $130 million for Trump gets him

Economic Times

Economic Times · 8m ago

Elon Musk is about to find out what $130 million for Trump gets him

Elon Musk, the billionaire CEO of Tesla and SpaceX, played a significant role in supporting Donald Trump's re-election campaign. Musk's political influence could pay off for him as Trump has hinted at giving him an official role in cutting government spending, which would allow him to influence policy and federal agencies overseeing his companies. Tesla's stock surged after Trump's win, and Musk's personal fortune has been tied to political developments. However, tensions may arise between the two men due to their egos and conflicting interests. Nevertheless, Musk now possesses a robust political machine that could benefit his businesses and policy goals in the future.

Elon Musk’s wealth soars $34 billion as Tesla comes roaring back

Economic Times

Economic Times · 8m ago

Elon Musk’s wealth soars $34 billion as Tesla comes roaring back

Elon Musk's net worth surged by $33.5 billion as Tesla's shares had their biggest gain in over a decade. This solidified Musk's position as the world's richest person, with a wealth of $270.3 billion. The boost came after Tesla reported its highest quarterly profit since 2023 and Musk predicted strong vehicle sales growth. Tesla's success is crucial for Musk's wealth, as the company's shares and options make up about three-quarters of his fortune. Musk also made headlines for his support of Donald Trump and his advocacy for autonomous vehicles. He believes that Tesla will become the most valuable company in the world.

Elon Musk’s ‘first buddy’ role: Tesla CEO joins Trump, Google’s Sundar Pichai on call, strengthens political ties

Livemint

Livemint · 7m ago

Elon Musk’s ‘first buddy’ role: Tesla CEO joins Trump, Google’s Sundar Pichai on call, strengthens political ties

Tesla and SpaceX CEO Elon Musk reportedly joined a private call between US President-elect Donald Trump and Google CEO Sundar Pichai. The call was made to congratulate Trump on his election win. Musk's involvement comes amid speculation about his ties with the Trump administration, as he has been seen at Trump's Florida residence and has made financial contributions to a pro-Trump political group. Musk's close relationship with the administration could benefit his companies, which rely on government regulation and subsidies. His influence also extends to interactions with world leaders, solidifying his role as a political power broker.

Elon Musk’s India visit in limbo, could Donald Trump’s win boost Tesla entry into India?

Livemint

Livemint · 8m ago

Elon Musk’s India visit in limbo, could Donald Trump’s win boost Tesla entry into India?

Elon Musk's association with Donald Trump's presidential campaign led to a surge in shares of his companies, with Tesla shares rising over 15% after Trump's victory speech. Trump praised Musk as a "genius" and hinted at assigning him a role in the "Department of Government Efficiency" to cut government spending. However, it is uncertain whether Trump's win will affect Musk's attempts to enter the Indian electric vehicle market, as his visit to the country has been delayed due to Tesla's other obligations. The future relies on Trump's stance towards China and whether Musk looks for alternative options such as India.

Bluesky crashes as users leave Elon Musk's X after Donald Trump's victory

Livemint

Livemint · 8m ago

Bluesky crashes as users leave Elon Musk's X after Donald Trump's victory

Bluesky, a decentralized social network backed by Twitter co-founder Jack Dorsey, is seeing a surge in users as people leave rival platform X (formerly Twitter) following Donald Trump's election win. However, Bluesky experienced an outage on November 14 and 15, with thousands of users unable to access the platform. Although Bluesky has gained over 2.5 million users in the past week and surpassed 16 million lifetime users, it still lags behind X and Meta's Threads. Users are leaving X due to changes in terms of service and concerns about misinformation control and Elon Musk's support for Trump.

Richest man in the world now $7 billion richer. Windfall from US election rockets Elon Musk’s worth to $334.3 billion | Company Business News

Livemint

Livemint · 7m ago

Richest man in the world now $7 billion richer. Windfall from US election rockets Elon Musk’s worth to $334.3 billion | Company Business News

Tesla CEO Elon Musk has increased his wealth by $80 billion, making him the richest person in the world, surpassing Oracle chairman Larry Ellison, according to Forbes. With a net worth of $334.3 billion, Musk's fortune is primarily derived from his stakes in Tesla and SpaceX, amounting to 13% and 42% respectively. He also has investments in other companies such as Neuralink, The Boring Company, and xAI. Musk's support for President-elect Donald Trump and the subsequent market response following the US election results further contributed to his financial success. Additionally, Musk's AI company, xAI, is now valued at $50 billion.

Donald Trump praises Elon Musk as chief disruptor eyes exit

Economic Times

Economic Times · 2m ago

Donald Trump praises Elon Musk as chief disruptor eyes exit

Elon Musk, praised by Donald Trump as a "chief disruptor," plans to reprioritize his focus from government advisory roles back to Tesla amid brand damage concerns. Despite Trump's invitation to continue his role in the White House, Musk aims to concentrate on resolving Tesla's challenges. Tesla, which has faced significant negative backlash due to Musk's political involvement, is reportedly considering a successor to Musk as CEO to ensure more of his time is dedicated to the company.

How Musk's clout with Trump could enrich his companies

Economic Times

Economic Times · 8m ago

How Musk's clout with Trump could enrich his companies

Elon Musk's support for Donald Trump's re-election has garnered him significant influence in shaping favorable government treatment for his companies. Musk contributed over $119 million to a pro-Trump spending group, aiming to reduce regulations and secure government support for Tesla, SpaceX, and Neuralink. His involvement in politics marks a shift from his previous focus on fighting climate change to championing a libertarian movement. Musk's growing power has excited fans and backers, while critics warn of potential consequences. His influence could impact policies governing electric vehicles, autonomous vehicles, and space exploration.

Tesla CEO Elon Musk Alleges Donald Trump’s Name in Epstein Files Amid Escalating Feud

OutlookIndia

OutlookIndia · 1m ago

Tesla CEO Elon Musk Alleges Donald Trump’s Name in Epstein Files Amid Escalating Feud

Tesla CEO Elon Musk has alleged that former President Donald Trump's name appears in the Jeffrey Epstein files, suggesting this as the reason for the documents not being fully released. This claim adds to the escalating feud between Musk and Trump, following disagreements over Trump's legislative proposal and government support for Tesla. Neither Trump nor the White House has responded to Musk's accusations about Trump's involvement in the Epstein files, keeping the public debate ongoing.

Trump-Musk spat spills onto social media: Blow-by-blow account of how the tiff unfolded

Economic Times

Economic Times · 1m ago

Trump-Musk spat spills onto social media: Blow-by-blow account of how the tiff unfolded

The spat between Elon Musk and Donald Trump has escalated on social media, with Musk criticizing Trump's spending bill and challenging past tweets. Trump responded by suggesting Musk was asked to leave the White House, questioned Tesla subsidies, and hinted at withdrawing government contracts with Musk's companies. The exchange led to personal attacks and financial market reactions, with Musk indicating a truce while addressing the implications on SpaceX's Dragon spacecraft operations.

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