Elon Musk has made it a full-time job in the last few months to campaign for Donald Trump in the US President elections. Musk spent more than $130 million in a pro-Trump capmapign-effort and the swing-state operation to register voters, apart from campaigning for him on his Social media platform X.
Musk’s investment paid off with Trump’s win. After Donald Trumps victory in the presidential election, the Tesla shares soared 15% on Wednesday adding about $15 billion in paper value to Musk’s net worth. According to he Forbes, Musk’s fortune rose to $256 billion. And at that level of wealth, Musk remained the richest person on earth. Musk is ₹5.3 lakh crore (approximately $63.5 billion) wealthier than the second-richest person, Amazon founder Jeff Bezos.
Trump thanked the Tesla boss for spending two weeks campaigning in Pennsylvania. Trump said, ‘A star is born. Elon’.
With Tesla positioned as a global leader in electric vehicles, Musk stands to gain immensely from policies that may prioritize renewable energy and emissions reduction. Well, the potential gain of Trump’s win goes well beyond Tesla.
Musk’s companies Tesla SpaceX ad X are tangled in a range of probes and lawsuits from federal agencies related to security law violations, workplace safety, labor and civil rights violations, violations of federal environmental laws, consumer fraud and vehicle safety defects.
Trump administration may want to ramp up the government’s work with Musk’s companies along with benefitting Musk in the ongoing lawsuits.
This post was last modified on 7 November 2024 8:51 pm
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