President-elect Donald Trump has identified Tesla CEO Elon Musk as a key player in his reelection campaign. Reports show Musk’s political contributions have yielded an astonishing 600-fold return on investment, mainly due to Tesla’s stock price rally following the U.S. presidential election. Analysts predict Musk’s wealth could skyrocket further, factoring in potential value increases in SpaceX and cryptocurrency holdings.
On Sunday, The Washington Post, citing the Bloomberg Billionaires Index, reported that Musk’s net worth had soared to approximately $442 billion as of December 13th. This marks a staggering increase of about $170 billion since the U.S. election. Musk’s reported campaign contribution to Trump was around $277 million, resulting in an eye-popping 612-fold return on investment.
Musk’s wealth has ballooned by $200 billion this year alone, with a whopping 85% of that gain occurring in just 40 days following the election. The lion’s share of this increase is tied to Tesla’s stock performance. Tesla shares, which traded at $248 earlier this year, closed at $436.23 on Friday. This represents a 75.6% annual increase, with 73.5% of that growth materializing post-election.
Musk’s financial windfall may continue to snowball. The Washington Post suggests that as the newly appointed head of the Department of Government Efficiency (DOGE), Musk could wield significant influence over policies affecting his business empire, including Tesla, SpaceX, X, and xAI. The paper pointed out that Musk’s empire will likely benefit from the deregulation promised by Trump and the public favors extended to loyal supporters.
Companies like SpaceX and Neuralink operate under intense regulatory scrutiny and could see substantial benefits. The Washington Post analysis indicates that these firms, operating in heavily regulated sectors, stand to gain from Musk’s role in the Department of Government Efficiency and the administration’s broader push for regulatory relief.
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