After the election in America, now Elon Musk makes another record. Everyone was shocked after watching Musk’s companies report. Donald Trump won the US presidential election. He defeated Indian-origin Kamala Harris. Trump’s victory sent stocks around the world, including the United States, into a tailspin. Meanwhile, the world’s richest man and entrepreneur, Elon Musk, won the lottery in one day. Musk and Trump’s friendship is well known. He earned Rs 2 lakh crore in just 24 hours. Tesla shares rose 15 percent on the back of a rally in the U.S. market.
Trump’s victory boosts the stock market
U.S. stock markets rallied as Donald Trump set the tone for his victory in the 2016 U.S. election. The Dow Jones Industrial Average rose 3.57 percent. It reached 43,729 points. The S&P500 ran hard. He jumped 2.53 percent. The Nasdaq rose nearly 3 percent. The rally in the U.S. market led to record highs in shares of several companies. The net worth of America’s leading entrepreneurs saw a big increase.
Wealth increased in one fell swoop
Trump’s victory sent U.S. markets into a rally. Elon Musk, the world’s richest man, benefited the most. His total wealth soared. According to the Bloomberg Billionaires Index, Elon Musk’s total wealth increased by Rs 2,23,265 crore. With this increase in wealth, Elon Musk’s wealth has reached $ 290 billion.
Tesla’s stock jumps
Elon Musk’s rise in wealth is due to a rally in Tesla shares, the company that makes his electric car. Tesla shares jumped nearly 15 percent after Donald Trump’s victory. Tesla shares rose to $289.59 from $284.67. Elon Musk’s stock jumped 14.75 percent at the close of trading. The stock closed at $288.53. The rally has dampened investor expectations. Over the next five years, many of Tesla’s projects are expected to receive major support. Trump and Musk’s friendship is well known.