The multi-million dollar sum Elon Musk has made from Donald Trump’s victory in the US election

Elon Musk’s gamble on Donald Trump has paid off in a big way, with the tech mogul reaping billions in gains following the former president’s return to the White House. Musk threw his considerable weight behind Trump’s campaign, contributing over $119 million to a Super PAC dedicated to the Republican’s re-election.

This massive financial backing was complemented by Musk’s active involvement in the campaign, including a potentially illegal voter mobilization initiative in key battleground states. The billionaire offered a daily $1 million incentive to voters in these crucial areas, a move that faced legal challenges but was ultimately allowed to stand.

Tesla’s stock price reflected investors’ optimism about Musk’s newfound political clout. Shares of the electric vehicle maker surged approximately 15% the morning after Trump’s victory. This dramatic increase added more than $15 billion to Musk’s net worth, taking his substantial stake in the company into account.

The stock market rally was fueled by expectations that Tesla would benefit from Musk’s close relationship with the incoming administration. Investors anticipate that Trump’s promised regulatory rollbacks and potential tariffs on foreign competitors could give Tesla a significant advantage in the electric vehicle market.

Big future ahead for Musk as part of Trump’s top team

Beyond the immediate financial gains, Musk’s support for Trump could yield long-term benefits for his various business ventures.

Trump has talked about creating a new “government efficiency” position in his administration for Musk, potentially giving the billionaire unprecedented influence over policy decisions that could impact his companies.