Business News Desk – After Donald Trump’s victory in the US Presidential elections, there has been a tremendous increase in the wealth of Elon Musk. On Friday, for the first time in the last three years, his wealth has crossed $ 300 billion (Rs 25 lakh crore). Tesla’s net worth has increased after the US presidential elections. According to Reuters, Musk supports Republican Party candidate and former President Donald Trump. Apart from being the CEO of Tesla, Musk is also the owner of social media handle X (formerly Twitter). According to Forbes’ Real Time Billionaires List, currently his wealth has exceeded $300 billion.
As of Friday, Tesla’s market value has crossed one trillion dollars (Rs 84 lakh crore). This is the first time in two years that his company’s shares rose by 8.2 percent to reach $321.22 per share. A rise of 29 percent has been recorded in the company’s shares. At the same time, the market capital of the electric vehicle manufacturing company has increased by more than 230 billion dollars (Rs 19 lakh crore). This is the company’s best performance so far after January 2023.
Investors are confident that after Trump’s victory, Musk’s companies will be profitable in America. Before the election, Musk had openly supported Trump. Garrett Nelson, senior equity analyst at CFRA Research, believes that if anyone has benefited after Trump’s victory, it is Elon Musk. He is the biggest winner. Musk’s companies will get direct benefits of victory in future also. According to sources, there may be pressure to make the legal environment in the US favorable for Tesla’s autonomous vehicles. The US National Highway Traffic Safety Administration may give Tesla some relaxation in the rules.
Traffic rules are different in America
Musk’s entire focus is on autonomous vehicle technology. Musk’s dream was to launch an affordable car for less than $30,000 (Rs 25,31,494). But due to some obstacles this process has been delayed. Experts believe that if Musk convinces Trump to relax vehicle rules, the auto sector will benefit. Companies want uniform rules across the United States. At present the rules are not the same in different states. Tesla has been the richest car manufacturer in the world. China’s BYD and Japan’s Toyota are currently lagging behind. Tesla shares have increased 93.47 times in the last one year. While in Nvidia this figure has been 38.57 times, in Microsoft it has been 30.77 times.
