Elon Musk's net worth jumps $26.5 billion in one day after Tesla stock surge following Trump victory
Elon Musk's net worth increased by $26.5 billion in one day, reaching $290 billion, following Donald Trump's victory in the 2024 election. This surge was driven by a 16.2% rise in Tesla's stock, its highest since July 2023. Musk's wealth is closely tied to Tesla, as he owns about 20% of the company. His one-day gain represents a significant return compared to his $118 million campaign contribution to Trump. In contrast to the previous administration, Tesla's stock growth has slowed under President Biden, rising 86.5% since November 2020, compared to a 987% increase during Trump's first term.