Musk increasingly richer after Trump’s election (54 billion in a matter of hours)

Many have wondered why entrepreneur Elon Musk was so involved in Donald Trum’s election campaign. The richest man on the planet has taken to the field in an increasingly massive manner as the voting date approaches and the results are tangible.

The brilliant founder of Tesla (but also owner of SpaceX, X – formerly Twitter – and several other companies) will not only be the head of the “Department for Government Efficiency” (a newly created ministry) together with the man Vivek Ramaswamy’s business but has also seen his fortunes increase significantly after last week’s vote.

The quotes of Teslathe only listed company owned by Musk, jumped in a few days from 250 dollars per share to 360 dollars, a +45% which then fell to 328 dollars but which still allowed the company to exceed one trillion (one thousand billion) dollars in capitalisation.

Similar dynamics to the one that affected Dogecoina cryptocurrency that has always been dear to the entrepreneur, jumped by 180% in just a few days, going from 0.16 dollars to 0.44 (and then retracing to 0.38 dollars).

According to Forbes calculations, Musk’s net worth has increased by around $54 billion since last Tuesday, reaching 319 billion dollars, confirming his lead in the world ranking of the richest on the planetbut widening the gap by about $90 billion on Oracle founder Larry Ellison, the second richest person in the world.

But the fortunes of the Pretoria entrepreneur seem destined to continue. The rally of recent days has in fact been accompanied by a bullish note from Wedbush analyst Dan Ives, one of the most explicit voices on Tesla, who has raised his company’s price target to $400suggesting that the stock could appreciate by a new 20%.

Musk’s business empire, in addition to Tesla and

The businessman publicly supported Trump a few hours after the attack on July 13 and has consistently committed time and resources to his re-election. Contributed with more than $100 million to America Paca pro-republican association.