Tesla shares have surged by about 35% since Donald Trump’s presidential win, bolstered by Trump’s ties to Tesla CEO Elon Musk. For the reason that election, Tesla has added near $250 billion to its value, pushing its market cap to over $1 trillion for the primary time since 2022.
Tesla is now value greater than Toyota, Ferrari, Common Motors, Porsche, and Ford combined.
The corporate’s inventory has elevated by over 44% total previously month, leaving Musk now richer by $70 billion. Musk spent at least $130 million to assist Trump get elected.
Musk is the richest particular person on the planet on the time of writing with a complete internet value of $320 billion, in keeping with the Bloomberg Billionaires Index. Amazon’s Jeff Bezos is in second place with a $235 billion fortune.
Elon Musk. (Picture by Jabin Botsford/The Washington Publish through Getty Pictures)
Musk additionally has a brand new accountability on his plate. On Tuesday, Trump appointed Musk to co-lead the brand new Division of Authorities Effectivity with fellow billionaire Vivek Ramaswamy.
The 2 are tasked with reducing down authorities spending, restructuring federal companies, and eradicating pointless rules. They’ve till July 4, 2026, or the 250th anniversary of the Declaration of Independence, to fulfill their targets.
