Musk's companies gain value in Trump 2.0 era

ISTANBUL

Elon Musk's companies gained significant value in the stock markets following Donald Trump's presidential election victory in the US.

Musk, one of Trump's biggest financial supporters, donated more than $130 million to the Trump election campaign last year.

Trump's policies, such as promising to make the US the crypto capital, supported Musk's tech-based companies’ value.

Previously, Tesla's share price exceeded $437 last December and its market value reached more than $1.5 trillion.

Currently, the company’s share price exceeded $362.3 as of 2045GMT on Wednesday and the market value was at $1.17 trillion.

Before the election, the price of Tesla per share was around $260. The price has gained 40% since the election.

It means Musk's earnings with only Tesla amounted to around $400 billion.

SpaceX's, not publicly listed, market value is calculated as around $350 billion.

Another Musk-owned firm, X, is also trying to attract investments worth tens of billions of US dollars.

Musk's net worth is around $400 billion, making him the richest person in the world, according to Forbes.

His worth was around $195 billion last year.