Tesla shares skyrocket post Donald Trump's win, Elon Musk's wealth soars beyond USD 300 billion

Elon Musk, CEO of Tesla, has seen his net worth soar past the $300 billion mark as Tesla shares skyrocketed by over 30% in the past week. Musk’s fortune reached $304 billion, making him the only person in the world with a wealth of over USD 300 billion, as listed by Forbes’ Real-Time Billionaires Index. This massive increase in his net worth comes in tandem with Tesla’s strong stock performance, which saw an 8.19% surge to a market value of USD 321.22 billion on Friday alone. Musk's wealth increased by 4.71% in just one day, with his net worth sitting at around $250 billion prior to the recent surge.

The boost in Tesla’s stock price followed Donald Trump’s historic victory in the U.S. presidential election, which marked his return to the White House after four years. Musk, a vocal supporter of Trump during his campaign, attended several rallies, and Trump, in turn, openly endorsed Musk. This backing, combined with Trump’s win, has driven Tesla’s stock value upward and, consequently, Musk's wealth.

Following Musk in the billionaire rankings is Oracle’s Larry Ellison, who holds the second spot globally with a wealth of USD 230.7 billion. Jeff Bezos, Amazon’s founder, is close behind with a net worth of $224.5 billion, followed by Meta’s Mark Zuckerberg at USD 203.8 billion, and Bernard Arnault & family at USD 165.5 billion.

Trump’s return to the presidency has seen him endorsing several top billionaires during his campaign, including Musk, Bezos, Ellison, Zuckerberg, and Google’s Larry Page. This endorsement of high-profile business figures may signal Trump's intention to collaborate with these industry leaders during his administration. After the election, Musk reportedly joined a call between President-elect Donald Trump and Ukrainian President Volodymyr Zelenskyy, reflecting his growing influence and involvement in the new administration.

Musk’s wealth is largely tied to Tesla, the world’s leading electric vehicle manufacturer, which has benefited from supportive federal policies. In a recent earnings call for Tesla, Musk shared that if he were appointed a position within Trump’s administration, he would push for the establishment of a federal regulatory framework for autonomous vehicles, an area that is key to Tesla’s future ambitions.

The recent changes in Musk's wealth highlight how stock movements and federal support can impact billionaires and the industries they lead. Tesla’s performance continues to reflect investor confidence, and with Musk's close connection to the administration, there may be even greater growth for Tesla and its innovations in the years ahead.

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