Elon Musk Gains $70 Billion in Just Four Days Post-Trump Victory, Thanks to Tesla Surge

Elon Musk Gains $70 Billion After Trump Victory, Thanks to Tesla Stock Surge

Elon Musk is $70 billion richer after the 2024 U.S. election, fueled by a dramatic surge in Tesla stock. Since Donald Trump's victory, Tesla shares have climbed by an impressive 39%, helping Musk's net worth hit an astonishing $320 billion. This recent boost places him nearly $90 billion ahead of Oracle’s Larry Ellison, making him the world’s richest person by a wide margin.

Tesla’s Surge Powers Musk’s Wealth

Musk’s wealth is primarily tied to his substantial holdings in Tesla, and the electric vehicle manufacturer’s stock price surge following Trump’s win has significantly boosted his net worth. As of now, Tesla's market cap has surpassed $1 trillion, with Musk holding around 411 million shares of the company, alongside millions of performance-based stock options. This surge in stock value has catapulted Musk’s wealth to new heights, reaffirming his position as one of the wealthiest individuals on the planet.

Musk’s Political Investment Pays Off

Musk’s financial windfall isn’t just a result of Tesla’s success. The billionaire businessman’s close involvement with Trump’s campaign has also played a role in his growing fortune. Musk reportedly spent at least $130 million supporting Trump’s 2024 run, funding voter registration campaigns in swing states and leading rallies. He also used his social media platform, X (formerly Twitter), to amplify his support for Trump, despite facing backlash for promoting misinformation.

Since the election, Musk has been actively involved in Trump’s plans for the next administration. He’s attended discussions with Ukrainian President Zelenskyy and spent considerable time at Trump’s Mar-a-Lago resort, with some reports suggesting Musk is weighing in on staffing decisions for Trump’s potential second term.

Regulatory Changes Could Benefit Musk’s Empire

Musk’s business ventures span across multiple sectors, from Tesla and SpaceX to his acquisition of X and his ventures in AI and brain-computer interfaces. The new administration’s regulatory landscape could significantly benefit Musk, as his companies face ongoing investigations into securities law violations, workplace safety, and environmental concerns. With Trump back in the White House, Musk could see a reduction in federal scrutiny, particularly around Tesla and SpaceX, allowing his companies to expand with fewer regulatory obstacles.

Other Tech Billionaires Benefit Too

Musk isn’t the only tech mogul seeing financial gains after Trump’s win. Brian Armstrong, CEO of Coinbase, has seen his net worth rise by $4.5 billion as Coinbase stock surged 67%. The cryptocurrency exchange has also been a major donor to pro-crypto political candidates, and with more favorable regulations on the horizon, Armstrong’s company stands to benefit greatly. The rise in cryptocurrency prices, including Bitcoin, has also benefited Musk’s Tesla, which holds a significant amount of digital assets.

What’s Next for Musk and His Businesses?

Looking ahead, Musk’s wealth could continue to rise as Tesla’s stock remains strong, especially if regulatory changes under a second Trump administration favor his companies. Musk’s investments in AI, electric vehicles, and space exploration are poised for even more success as the political and business landscape evolves.