Elon Musk’s wealth could grow by about $15 billion as Tesla’s stock surged following Donald Trump’s recent election victory.
Tesla shares rose nearly 15% in pre-market trading, reaching $289.44, which added around $113 billion to the company’s overall value.
If Tesla shares hold this value by the end of the day, Musk, who owns a 12.8% stake in the company, will see his net worth increase by an estimated $15 billion, according to The Telegraph.
The stock boost came after Trump praised Musk, a supporter during his campaign, calling him a “genius” in a victory speech.
“We have a new star, a star is born: Elon,” Trump said, admiring Musk’s achievements with SpaceX and Starlink, especially Starlink’s deployment during Hurricane Helene.
“He’s an amazing guy,” Trump added.
“He’s a character, he’s a special guy, he’s a super genius.”
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