Tech billionaire
20 billion in one day – Tesla price increase makes Musk even richer
Elon Musk is already the richest person in the world. The proximity to the future US President Donald Trump increases his wealth again with the rise in Tesla shares.
Tesla shares continue to rise after the US presidential election – making company boss and major shareholder Elon Musk even richer. The 53-year-old expanded his lead at the top of the Bloomberg financial service’s billionaire rankings by a good $20 billion in just one day. Bloomberg now estimates his fortune, which largely consists of Tesla shares, at $335 billion.
In second place is Amazon founder Jeff Bezos with $228 billion. At the same time, the paper assets of the super-rich fluctuate with the share prices of their companies. Tesla shares rose another nine percent to $350 on Monday. The company was worth over $1.1 trillion on the stock market.
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Elon Musk – is it the proximity to Trump?
Musk supported Donald Trump, who ultimately emerged victorious, in the election campaign and became one of his closest confidants. According to the news channel CNN, he has been spending a lot of time with Trump since the election and also makes recommendations about filling government positions. Trump also promised that he would task Musk with cutting government spending.
Investors are betting that Tesla will benefit from Musk’s proximity to the future president. The car manufacturer is the target of several investigations by US authorities. Tesla is also feeling the effects of slower growth in the electric car market.
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Source: Stern
