Elon Musk’s net worth soars over $20 billion after Trump win

The world’s richest man just got richer following Donald Trump’s presidential election victory.

Billionaire entrepreneur and Tesla CEO Elon Musk’s net worth surged a whopping $20 billion following Donald Trump’s presidential election victory in the United States.

Musk, who was one of Trump’s biggest financial backers, saw his net worth rise by more than 7.5% in one day, bringing it to $285.6 billion, reported Forbes.

Additionally, Tesla’s stock (TSLA) closed up almost 15% on Wednesday, reaching $286.74 in after-hours trading — the highest share price recorded since September 2022, according to Google Finance.

Musk was quick to celebrate Trump’s victory, even before the election was called in the former president’s favor.

In a post on his social media platform X on Nov. 6, the Space X CEO said that Trump had been given a “crystal clear mandate for change.”

“The people of America have spoken and spoken with absolute clarity,” he said in a separate post on Nov. 7 after the US Department of Justice dropped their cases against Donald Trump after accusing him of fraud and conspiring to illegally overturn the 2020 election. #BusinessStrategy #NovemberMarketAnalysis #PensionCryptoShift