The Washington Post (WP) reported on the 15th that Tesla CEO Elon Musk has made over 600 times his ‘investment’ in President-elect Donald Trump.
According to the Bloomberg Billionaires Index, Musk, who is ranked first among the world’s richest people as of the 13th, has assets of approximately $442 billion. Due to the rise in Tesla’s stock price, it has increased by approximately $200 billion, or about 80% this year alone. It has increased by $170 billion since the presidential election.
Of this year’s asset increase, 85% occurred in the 40 days since the 5th of last month.
During this period, Tesla’s stock price soared 73.5% from $251.44 (November 5) to $436.23 (December 13). Musk, who actively campaigned for former President Trump during the US presidential election, is enjoying the full effect of Trump’s election. Musk also poured a huge amount of election funds into former President Trump during the presidential election. Musk invested $277 million in election funds. He earned $170 billion by ‘investing’ $277 million. The ‘return’ is 612 times.
The ‘return’ can increase further.
Musk was appointed as the head of government efficiency in Trump’s second term, and he is exercising great authority as Trump’s closest aide, including being involved in cabinet appointments. The Washington Post reported that “As Musk becomes Trump’s loyal political ally, Musk’s corporate empire will directly benefit from Trump’s promised deregulation and other policies,” and that “as the head of government efficiency, Musk may also create policies that directly affect his businesses.”
In addition to the electric car company Tesla, Musk also owns space company SpaceX, brain science startup Neural ink, artificial intelligence (AI) company Xai, social media company X (formerly Twitter), and tunnel-digging company The Boring Company.
Senator Edward J. Markey (Democrat, Massachusetts), who has been critical of Tesla’s approach to advanced driver assistance features, said, “Musk is already reaping the benefits of his investment in Trump,” and said he plans to prevent Musk from easing regulations or weakening legal standards for his own businesses.