Elon Musk is $70 billion richer since Trump victory due to Tesla stock surge
Elon Musk spent
$44 billion
to buy Twitter, now known as X, and
at least $130 million
to help get
Donald Trump
elected president.
It’s a combination that’s paid off handsomely. Since Trump’s victory last week, Musk is about $70 billion richer on paper.
Most of Musk’s wealth is wrapped up in his holdings of
Tesla
, and in the four trading days since the election, the electric vehicle maker’s stock has soared by about 39%. That’s lifted the company’s market cap well past $1 trillion.
Musk’s net worth has swelled to $320 billion, according to
Forbes
, putting him close to $90 billion ahead of
Oracle
founder
Larry Ellison
, the world’s second-richest person. Ellison, a close friend of Musk’s and a former Tesla board member, is a longtim...