Tesla surpasses $1 trillion in valuation in the wake of Trump’s victory
Tesla returned to the $1 trillion club Friday, after its stock surged in the days following Donald Trump's presidential election victory.
Shares in the electric automaker have soared approximately 23% since Wednesday — a sharp turnaround from a year in which its stock price had otherwise been moving sideways.
The new valuation also increases Tesla CEO Elon Musk's net worth to some $300 billion, according to Forbes — increasing his net worth as the world's richest person by more than $30 billion.
Musk campaigned aggressively for Trump, who has signaled he intends to appoint the Tesla chief to a role tasked with increasing government "efficiency" that would cut programs deemed wasteful.
Through his rocket company SpaceX, Musk has been the beneficiary of billions in government con...