Elon Musk’s fortune has skyrocketed since Donald Trump’s presidential election victory in November, with his net worth growing by $135 billion. This surge is not limited to individual companies but also affects assets linked to the world’s richest person.
The “Musk trade” has been on fire, with Tesla’s stock closing up 42% since the election, despite choppy returns year-to-date. Musk has set ambitious plans for the electric vehicle maker, including a network of automated Cybercabs in Austin and a return to vehicle sales growth.
Dogecoin, Musk’s favorite meme cryptocurrency, has surged about 60% since Trump’s election win. X, the social media platform acquired by Musk’s company, has seen a resurgence in recent months, with advertisers returning to the platform after a decrease.
xAI, a direct competitor to OpenAI, is benefiting from increased investor interest, with plans to raise $10 billion at a valuation of $75 billion. SpaceX, Musk’s space exploration company, is also thriving, with deals for its satellite internet division and a potential $1.6 billion deal with the Italian government.
The reasons behind this surge are varied, but one factor is Trump’s less decisive approach on tariffs, which has caused the initial “Trump trade” to fade. Instead, Musk’s assets have become the place to be, driven by his polarizing persona and ambitious plans for Tesla and other companies.
Source: https://www.businessinsider.com/elon-musk-company-valuations-donald-trump-election-impact-tesla-x-2025-2