Elon Musk and his massive wealth are benefiting after choosing the right "civilization", before announcing that he will "go all out" to support President Donald Trump's presidential bid.
Elon Musk, CEO of Tesla and SpaceX, is currently benefiting greatly from the results of the US election, as Tesla's stock has risen sharply, increasing his total net worth to around $290 billion. Musk was one of the most prominent supporters of Donald Trump in this year's race for the White House, spending over $130 million on the America PAC super PAC to support Trump's campaign. This support has helped create a close relationship between the two, with Trump not only praising SpaceX but also calling Musk a "super genius" and a "special person."
Tesla's stock has recorded significant growth, rising 14.7% in the trading session on November 6, reaching its highest level since July 2022. This strong increase has helped increase Elon Musk's assets by $26.5 billion, pushing his total net worth to $290 billion. In just one trading session, Musk's net worth increased by nearly 10%, keeping him in the position of the world's richest person. In the third-quarter financial report, Tesla also reported a profit of $2.5 billion, up 8% from the same period last year, far exceeding the forecasts of financial experts.
According to experts, Trump's victory could bring many benefits to Tesla and Elon Musk, especially in the context of changes in alternative energy subsidies. Wedbush Securities analyst Daniel Ives believes that Tesla will have a greater advantage if the government reduces tax incentives for electric vehicles, putting more pressure on competitors in the industry, especially electric vehicle companies from China.
