In a stunning financial leap, Elon Musk, the world’s richest entrepreneur, added a staggering ₹2 lakh crore to his wealth in a single day following the recent U.S. presidential election. The election, which saw Donald Trump reclaim the presidency by defeating Indian-origin candidate Kamala Harris, sparked a powerful rally in the stock markets, sending Musk’s fortune skyrocketing. Known for his close ties with Trump, Musk’s companies, especially Tesla, enjoyed an immense surge as the markets responded to Trump’s win.
Trump’s Victory Ignites a Stock Market Rally
As the results poured in, U.S. stock markets surged, mirroring the historic rally seen during Trump’s 2016 victory. The Dow Jones Industrial Average soared by 3.57%, reaching an impressive 43,729 points. The S&P 500 followed suit, climbing by 2.53%, while the Nasdaq gained nearly 3%. This rally propelled several companies’ stocks to record highs, significantly boosting the net worth of America’s top entrepreneurs.
Musk’s Wealth Explodes by ₹2 Lakh Crore Overnight
Elon Musk was the biggest beneficiary of this market surge. According to the Bloomberg Billionaires Index, Musk’s net worth soared by ₹2,23,265 crore, pushing his total wealth to a breathtaking $290 billion. This astronomical increase underscores the financial power that major market shifts can wield, particularly for high-profile tech moguls like Musk.
Tesla’s Stock Soars, Driving Musk’s Wealth
Tesla, Musk’s flagship electric vehicle company, witnessed a remarkable 15% jump in its stock price after Trump’s victory. The stock rallied from $284.67 to close at $288.53. With investor confidence surging, expectations for Tesla’s future projects have soared as well. Trump’s presidency is expected to bring favorable policies, potentially providing significant support to Tesla and other Musk-led ventures over the next five years.
A Historic Windfall and the Power of Market Momentum
This incredible wealth surge highlights the profound impact of political events on the global financial stage. Musk’s astronomical one-day gain reinforces the close relationship between economic policies and market reactions, especially when the presidency changes hands. For Musk, who has often praised Trump’s business policies, the return of a friendly administration in Washington signals a promising outlook for his companies.
As the dust settles on the U.S. election, this record-breaking financial leap serves as a reminder of the powerful, sometimes unexpected ways that politics and finance intertwine. With Tesla stock on an upward trajectory and Musk’s wealth reaching new heights, this election outcome has reshaped not only America’s political landscape but also the fortunes of one of its most influential business figures.
