Trump's Victory Brings $15bn To Musk

• 7.11.2024, 5:23

Tesla shares are up.

After Donald Trump won the US presidential election, Tesla's shares rose 12 per cent and Elon Musk's fortune increased by $15 billion, allowing him to retain his status as the richest man in the world. This is reported by Forbes.

Tesla shares rose to more than $280 this morning, which could be a new record for the company's stock, eclipsing the previous high of $273.54 on October 27.

Musk now owns about 13% of Tesla's stock, so Forbes estimates that the billionaire's fortune has grown by $15 billion following the stock's rise.

Musk was one of Trump's most prominent admirers during his campaign. The Tesla CEO invested at least $118 million in America PAC.

During his victory speech, Trump praised the Tesla CEO as a ‘super genius’ after Musk spent weeks campaigning for Trump across Pennsylvania.

Trump also previously said he was a big fan of electric cars, although he had assured shortly before that ‘we shouldn't bother with electric cars’.