Elon Musk’s net worth tops $300 billion in wake of Trump victory
Deccan ChronicleElon Musk’s net worth has surpassed $300 billion for the first time in almost three years, as shares of Tesla Inc. soar on bets that his close ties with President-elect Donald Trump will bolster the company.Musk has added more to his personal fortune since Trump’s win than anyone else tracked by the Bloomberg Billionaires Index. Trump also voiced support for SpaceX, which makes up $82 billion of Musk’s net worth, and its push to reach Mars. It’s still short of his all-time high of $340.4 billion in 2021.Even before the election, Musk’s net worth had been on the rise, with strong Tesla earnings in mid-October adding $34 billion to his fortune in a day.Read More: Elon Musk’s Wealth Soars $34 Billion as Tesla Comes Roaring BackMost of Musk’s fortune is tied up in Tesla, the world’s largest electric-vehicle manufacturer, whose prospects depend heavily on the federal government. Musk said during a Tesla earnings call last month that he’d push for a federal approval process for autonomous vehicles — a centerpiece of the company’s future strategy — if selected for a role in the Trump administration.Trump initially said he’d roll back EV initiatives in his acceptance speech at the Republican National Convention in July, but changed his position a month later.“I’m for electric cars,” Trump said at a rally in Atlanta.