Elon Musk's Net Worth Tops $300 Billion as Tesla Shares Surge 60% Post-Trump Win

Nov 11, 2024, 09:04 AM

Elon Musk's net worth has surpassed $300 billion for the first time in three years, following a surge in Tesla Inc.'s stock after Donald Trump's election victory. Tesla shares climbed 14% following Trump's win, contributing to a $50 billion boost in Musk's wealth. The electric-vehicle maker's market capitalization surpassed $1 trillion for the first time in two years as shares rose 28% since the election, including an 8.2% gain to $321.22 on Friday trading. The stock has jumped more than 60% since Tesla's third-quarter earnings 19 days ago, testing $350 in recent trading and reaching its highest level since April 2022. Investors are optimistic that Trump's return to the White House could be beneficial for Musk's company.