After Donald Trump’s victory in the US presidential election, Tesla CEO Elon Musk’s wealth saw a record increase in a single day. The positive market trend associated with Trump’s victory benefited Musk financially, and his total wealth increased by $26.5 billion (about Rs 2,44,267 crore). With this increase, his wealth has now reached $290 billion. If this trend continues, Musk may soon join the $300 billion club, which would be another major milestone.
Huge surge in Tesla shares
This increase in Musk’s wealth is directly due to the surge in the price of his company Tesla’s shares. On Wednesday, Tesla’s shares rose by a whopping 14.75 percent, and the price of these shares reached $288.53 in a day. This figure is a great relief for Tesla investors, as the company’s share price was in decline for some time and it had also come down to $278. However, later when the impact of Trump’s election victory was seen, Tesla’s shares again saw a tremendous jump.
Tesla investors’ confidence
After Donald Trump’s election victory, investors believe that now the government subsidy given for electric vehicles may be reduced. It is believed that if the subsidy is reduced, it can benefit big electric vehicle manufacturers like Tesla. This is the reason why Tesla’s shares jumped after Trump’s election victory, due to which Musk’s wealth also saw a record increase.
Tesla’s performance in the last 5 years
Tesla’s shares have performed brilliantly in the last five years. In these five years, Tesla’s shares have given a return of about 1054%. This figure has been very attractive for investors, and this is the reason why investors’ confidence in Tesla has constantly increased. Tesla’s shares have increased by 4% in the last one month, while in three months this figure has reached 25%.
Increase in the wealth of other billionaires too
After Donald Trump’s election victory, not only Elon Musk’s wealth has increased, but the wealth of other American billionaires has also increased. This list includes Amazon founder Jeff Bezos, Oracle co-founder Larry Ellison, investor Warren Buffett, Google co-founders Larry Page and Sergey Brin, Nvidia CEO Jensen Huang, Michael Dell, Steve Ballmer and Microsoft founder Bill Gates.
According to the Bloomberg Billionaire Index, the wealth of these billionaires has also increased significantly after Trump’s victory:
- Elon Musk: $26.5 billion increase
- Larry Ellison: $9.88 billion increase
- Warren Buffett: $7.58 billion increase
- Larry Page: $5.53 billion increase
- Sergey Brin: $5.17 billion increase
- Jensen Huang: $4.86 billion increase
Investor confidence and future outlook
From these figures, it is clear that the results of the US election have affected not only politics but also the financial markets. While Donald Trump’s victory has raised hopes for some investors, it shows that the world’s biggest and most influential businessmen can also see major changes in their wealth depending on the election results. It will be seen in the coming times whether this increase is sustainable or if some other event after the election results leads to a decline in the market. But for now, Musk and other billionaires are considering this as their big victory.