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Elon Musk's Net Worth Tops $300 Billion as Tesla Hits $1 Trillion Market Cap After Trump Win

Nov 8, 2024, 05:29 PM

Following Donald Trump's re-election as President, Elon Musk's net worth surged by $50 billion to exceed $300 billion, marking a 40,000% return on his estimated $130 million investment in Trump's campaign. He is now projected to become the world's first trillionaire by 2027. Tesla's stock price rose above $300 per share for the first time since 2022, pushing the company's market capitalization past $1 trillion with an increase of $250 billion in just three days. The stock has gained 51% over the past 12 trading sessions. The election results have spurred optimism among investors about potential favorable treatment for Musk's companies under the new administration.