Musk’s fortune has increased by 77% since Trump’s victory.Wealth of the world’s 500 richest now exceeds $10 trillion.
This remarkable achievement comes on the heels of a significant insider share sale at his aerospace company, SpaceX, which contributed approximately $50 billion to his wealth.
Trump’s Win and Musk’s Stock Market Impact
Elon Musk’s $400 billion net worth has also been significantly influenced by the political landscape in the United States, particularly following the election of President-elect Donald Trump.
Since Donald Trump’s victory, Elon Musk headed Tesla’s stock has surged by approximately 65%, with shares hitting an all-time high of $415. Investors are optimistic that Donald Trump’s administration will streamline regulations for self-driving cars and eliminate tax credits that benefit Tesla’s competitors.
Elon Musk’s $ 400 billion net worth was further enhanced by the close association with US-President elect Donald Trump.
In addition to SpaceX and Tesla, Elon Musk’s artificial intelligence venture, xAI, has seen its valuation more than double since its last funding round in May, reaching approximately $50 billion.
