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How Elon Musk got even richer after Donald Trump’s election win.
How Elon Musk got even richer after Donald Trump’s election win.
Elon Musk holds up a fist. He is wearing a gold ‘Make America Great Again’ baseball cap.
Elon Musk threw his profile, and finances, behind Donald Trump’s campaign. (Reuters: Rachel Wisniewski)
Elon Musk is the world’s richest man and his new proximity to the White House is, for now, making him even wealthier and more powerful.
The tech tycoon is believed to have added more than $US54 billion ($83.5 billion) to his net worth since the November 5 election, according to estimates from Forbes magazine.
The wealth injection came largely from a surge in the stock price of his companies Tesla and SpaceX after the re-election of Donald Trump.
“Mr Musk has made quite the bet by investing millions of dollars in the Trump campaign,” said Matt Mittelsteadt, a research fellow at the Mercatus Centre at George Mason University.
“Now that Mr Trump has been elected, I think that bet is very much paying off.”
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