Elon Musk's net assets surpass $300 billion - Tesla shares soar with Trump's victory

Leading U.S. electric automobile (EV) company Tesla rose in the morning of the 8th in the U.S. stock market, pushing its market capitalization to the 1 trillion dollar mark for the first time in about 2 years. Following the comeback of former President Trump, supported by Tesla CEO Elon Musk, there is a widespread expectation that a series of companies led by Musk will be favored.

November 9, 2024 9:48 JST (excerpt).
Tesla's stock price soared 28% from the closing price on the 5th - Musk's assets reached $313.7 billion.
"Musk is the big winner of the lottery revolving around Trump," says the analyst.
Expectations of a close relationship between Elon Musk, CEO of Tesla, an American electric vehicle (EV) manufacturer, and the incoming U.S. President Trump have driven the company's stock price higher. Musk's net worth exceeded $300 billion for the first time in about 3 years, which is approximately ¥45.792 trillion. Since Trump's victory in the U.S. presidential election, Musk has increased his personal assets more than anyone covered by the Bloomberg Billionaire Index. Tesla's stock price increased by 28% from the closing price on the 5th, raising Musk's assets by $50 billion to $313.7 billion.
　　Mr. Trump openly suggests moves that benefit Mr. Musk's business, stating that he is considering reevaluating plans to slow down the transition to EVs with the support of Mr. Musk. He also expressed support for the efforts towards Mars reaching the 82 billion dollars of Mr. Musk's net assets held by SpaceX, a U.S. space development company.
Furthermore, Mr. Trump is considering giving Mr. Musk a formal role in leading government spending cuts.

Musk's participation in the phone call highlights his influence in the new Trump administration.
Mr. Trump announced that he will mediate negotiations between Ukraine and Russia to end the war.
Former U.S. President Trump, who has made a comeback, participated in a phone call meeting with President Zelensky of Ukraine, and it was revealed by sources familiar with the situation that billionaire Elon Musk was also present. It has become apparent that Musk, who significantly contributed to Trump's victory, has influence in the Trump administration's second term.