Elon Musk's net worth surge: Elon Musk's net worth has reached close to 300 billion USD after shares of Tesla soared Wednesday following an election that will send Donald Trump back to the White House, an outcome that has been strongly backed by CEO Elon Musk in the closing months of the race. Donald Trump, who won the US presidential elections, mentioned Elon Musk in his first speech. He thanked Musk for his support. Elon Musk, the owner of Tesla, SpaceX and social media platform X, supported Donald Trump tremendously in these elections. His posts supporting Trump on X went viral. Now he has got a tremendous reward for this. Trump's net worth has increased by 26.5 billion USD in a single day. With this, he has reached close to 300 billion USD.
Tesla stands to make significant gains under a Trump administration due to its size, with the expectation that subsidies for alternative energy and electric vehicles will be threatened. While that would be a negative overall for the industry, it could give Tesla an advantage because of market share. Shares of rival electric vehicles sank sharply Wednesday. Tesla shares jumped 14 per cent at the opening bell. Trump has proposed 10 to 20 per cent tariffs on foreign goods that would also impact electric vehicle makers outside the US, especially in China.
Elon Musk has supported Trump tremendously in this presidential election. He had made a post in which he was seen taking oath as a minister in an AI image. Now it is also being speculated that Elon Musk can be made a minister in the Trump government. At the same time, in a post, the AI avatar of Musk and Trump was seen dancing together.
