Musk earned almost $21 billion this Monday. This is because Tesla shares rose 9% after Donald Trump’s electoral victory in the US and that raised his net worth to $335 billion.
Elon Musk is close to breaking his wealth record of $340 billion as Tesla shares continue to rise after since Donald Trump’s victory in the US presidential elections.
The richest man in the world earned almost $21 billion on Monday, as Tesla shares rose 9%. That grew his net worth to $335 billion, according to the Bloomberg Billionaires Index. And this Tuesday the trend may continue.
The Tesla shares climbed up to 7% in pre-market trading this Tuesday, November 12, before changing direction and falling 4%. His initial gain briefly raised Musk’s paper wealth to about $342 billion, according to Business Insider estimates, surpassing his all-time high of $340.4 billion in 2021.
CEO Tesla’s wealth
He Tesla and SpaceX CEO’s net worth has increased by $105 billion this yearwhich keeps him more than US$100,000 million above the second on the list of the richest, the founder of Amazon, Jeff Bezos, whose fortune amounts to US$228,000 million.
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Reuters
Tesla shares have risen since Donald Trump’s victory in the US presidential election and closed on Monday at $350, as investors bet the electric vehicle maker will benefit from Musk’s close ties to the president-elect.
The rise in shares comes after a 29% rise in share value since Trump’s victory in the United States presidential election. Investors speculate that a Republican administration could favor Tesla because of CEO Elon Musk’s financial contributions to a pro-Trump campaign. That has sent Tesla shares up 30% so far this year.
Source: Ambito
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
