Elon Musk Net Worth: World's richest man's wealth surges $60 billion after Donald Trump's win and DOGE appointment

economictimes.indiatimes.com:

Donald Trump has appointed world's richest man Elon Musk to lead the newly formed US Department of Government Efficiency (DoGE). Musk, one of the wealthiest individuals globally with a net worth exceeding $300 billion, had previously promised Trump a key role in his government, while ensuring Musk's companies such as Tesla, X, SpaceX, xAI, and Neuralink remain under his control.

Elon Musk’s Wealth Soars after Trump’s Win

Musk's financial standing saw an immediate boost after Trump’s victory in the U.S. presidential election, with his net worth jumping by $20.9 billion—nearly 8 percent—reaching $285.6 billion on the result day. Since Trump's win last week, Musk's net worth has increased by approximately $60 billion. The bulk of Musk's wealth is tied to his Tesla holdings, and in the four trading days following the election, the company's stock rose by roughly 39%, pushing its market value above $1 trillion. According to Forbes, Musk's net worth has now reached $308 billion.

Analysts attribute Musk's wealth increase to his significant holdings in Tesla and other tech-driven ventures that are likely to benefit from business-friendly policies under a Trump administration.

Tesla Shares Surge Following Trump’s Election

Following Trump's win, Tesla's stock saw a substantial rise. On the Wednesday after the election, shares surged 14.8%, as investors expected that the company, along with Musk, would gain from Trump's business policies. Under a Trump administration, Tesla is likely to see substantial gains, particularly as smaller electric vehicle (EV) competitors face challenges from cuts to subsidies and the potential impact of tariffs on Chinese imports. Tesla currently leads the U.S. electric vehicle market, holding a 48.9%