Thu 20 February 2025:
Elon Musk’s companies gained significant value in the stock markets following Donald Trump’s presidential election victory in the US.
Musk, one of Trump’s biggest financial supporters, donated more than $130 million to the Trump election campaign last year.
Trump’s policies, such as promising to make the US the crypto capital, supported Musk’s tech-based companies’ value.
Previously, Tesla’s share price exceeded $437 last December and its market value reached more than $1.5 trillion.
Currently, the company’s share price exceeded $362.3 as of 2045GMT on Wednesday and the market value was at $1.17 trillion.
Before the election, the price of Tesla per share was around $260. The price has gained 40% since the election.
It means Musk’s earnings with only Tesla amounted to around $400 billion.
SpaceX’s, not publicly listed, market value is calculated as around $350 billion.
Another Musk-owned firm, X, is also trying to attract investments worth tens of billions of US dollars.
Musk’s net worth is around $400 billion, making him the richest person in the world, according to Forbes.
His worth was around $195 billion last year.
-Source: AA
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