VTV.vn - Billionaire Elon Musk's net worth has increased by about 70 billion USD after the stock price of electric car manufacturer Tesla increased sharply.
Since the November 5 US presidential election, Tesla shares have risen about 39% to $350 a share, pushing the company's market capitalization past $1 trillion. The increase has pushed Musk's net worth to an estimated $320 billion, nearly $90 billion more than the world's second-richest person, Larry Ellison, founder of technology giant Oracle, according to Forbes. Ellison's fortune has also increased by about $20 billion thanks to a 10% increase in Oracle shares over the same period. Musk holds a large stake in Tesla, owning 411.06 million shares and about 304 million performance-based options, according to the latest regulatory filing. In January, a Delaware Court of Chancery judge rejected Musk's 2018 compensation package, which included those options. Shareholders then voted to re-approve the package in June. The court said a final ruling on the matter is expected soon. Deepwater Asset Management analyst Gene Munster attributed Tesla’s recent stock surge to growing investor confidence in the company’s potential in other areas, such as robotaxi. In addition to Tesla, rocket and spacecraft maker SpaceX and artificial intelligence company xAI are also “clear beneficiaries” of the 2024 presidential election, Munster said.
Elon Musk 's presence at Trump's side on election night (November 5) marked an unprecedented turn, as the world's richest billionaire announced that he would turn his sights fully on American politics. Since endorsing Trump in July 2024, Musk has become a prominent force in the conservative political movement. Notably, Musk was present with Trump when many world leaders called to congratulate the US president-elect. CNN quoted a source familiar with the matter as saying that Musk was with Trump when Ukrainian President Zelensky called to congratulate him. Trump put Musk on speakerphone so he could listen to the conversation, and Zelensky thanked the billionaire for helping provide communications to the Ukrainian military via the Starlink satellite internet service. As someone close to Trump, Musk's opinions on personnel selection are said to have great influence. The CEO of SpaceX and Tesla has even expressed his preference for certain roles. Elon Musk endorsed Florida Senator Rick Scott after the Republican backed Trump's proposal that anyone running for Senate leader must support the appointment of his nominees for key cabinet positions. Analysts say this is Trump's way of minimizing opposition from Democrats in the Senate. Elon Musk is not only close to Trump but also to billionaire Howard Lutnick - CEO of financial services company Cantor Fitzgerald, who is currently in charge of human resources during the Trump team's transition. Many sources said that Trump has a lot of favors for Elon Musk. "We have to protect the geniuses in this country because there are very few of them," Trump emphasized in his victory speech on November 5. Elon Musk may not hold an official position in the Trump administration, but the American tech billionaire still has enormous access and the ability to influence from the outside.
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