This article discusses the significant increase in Elon Musk's net worth, reaching $436.3 billion, and connects it to his political support for President Donald Trump. It examines the potential benefits Musk might gain from his close relationship with Trump, including regulatory relief for Tesla and the elimination of tax credits for electric vehicles.
South Africa-born Elon Musk has seen his net worth reach $436.3 billion, according to the Forbes Real Time Billionaires List. Musk’s wealth, largely based on the share price of Tesla and the valuation of SpaceX, already took a huge leap after Donald Trump won last month’s US presidential election.Musk has been a prominent political donor and advocate for Trump, pumping a staggering $270 million into the Republican’s campaign.
He has been an ever-present sidekick for Trump since his election victory, inviting him to watch a rocket launch in Texas by his SpaceX company. Musk’s businesses all have varying degrees of interactions with US and foreign governments, and his proximity to Trump has raised concerns that Musk will be able to give advantage to his own interests. Musk is also expected to secure a reduction in regulations for Tesla as well as elimination of tax credits on electric vehicles that will punish the car-maker’s rivals. Trump has selected Musk to co-head the so-called Department of Government Efficiency (DOGE), which is set to deliver billions of dollars of cuts in federal spending and slash government red tape.
ELON MUSK NET WORTH TESLA SPACEX DONALD TRUMP
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Elon Musk’s millions for Donald Trump make him biggest US political donorSouth Africa-born tech billionaire Elon Musk spent at least $270 million to help Donald Trump win the US presidency.
Read more »
Elon Musk's Net Worth Surges, Exceeding $400 Billion Amid Trump's Re-electionElon Musk's net worth has more than doubled in 2024, reaching $486 billion, making him the first person in history to surpass $400 billion. This surge is largely attributed to investor optimism surrounding artificial intelligence (AI) and Musk's close relationship with Donald Trump, who was re-elected as US President. Despite Tesla experiencing reduced EV demand and no major product launches, its share price has increased 90% since Trump's victory, potentially fueled by investor expectations of eased safety regulations under a Trump administration.
Read more »
Trump Rules Out Musk as President, Citing BirthplaceDonald Trump dismissed the idea of Elon Musk becoming president, stating that Musk's birth in South Africa disqualifies him under US citizenship rules. Trump was responding to criticism from Democrats who have labeled Musk as 'President Musk' due to his significant influence in the incoming administration.
Read more »
UPDATE: Elon Musk rakes in the billions as net wealth SOARSSouth Africa-born Elon Musk continues to widen his lead at the top of the Forbes Real-Time Billionaires List.
Read more »
Elon Musk calls for US to replace fighter jets with dronesElon Musk tapped by US President-elect Donald Trump to slash federal government spending, believes that drones are the future of air combat.
Read more »
Elon Musk custody battle: Grimes ‘didn’t see’ one of her kids for 5 monthsGrimes claims she had not seen one of her kids for five months amid her custody battle with South African-born billionaire Elon Musk.
Read more »