Elon Musk (53), currently the richest man in the world, has pumped millions of dollars into Donald Trump’s election campaign in recent months. A move that may have given Trump victory, but Musk huge profits. His Tesla shares rose 15 percent on election night.
The prospect of a Trump victory sent Tesla shares up 15 percent in over-the-counter trading. On Wednesday morning, the price was 261.65 euros (as of 8:30 a.m.), increasing Tesla’s enterprise value by about 93 billion euros to 715.4 billion euros.
Musk, who owns about 13 percent of Tesla shares, achieved an increase of about twelve billion euros overnight, reports ‘Bild’.
Musk’s other companies — including SpaceX, The Boring Company and social media platform X — are not publicly traded. Therefore, their current value is more difficult to determine.
“The future will be fantastic”
Trump praised Musk in his victory speech. Musk spent election night at his side. The tech billionaire previously cast his vote: “I just voted in South Texas, where Starbase is, and now I’m going to Mar-a-Lago in Florida to meet President Trump and JD and some other cool people. ‘ he wrote on X.
There he also expressed his expectation of an election victory with the words “The future will be fantastic”. He also had the like button on the platform changed to show his continued support for Trump (see X-post above).
A staunch supporter, Musk campaigned diligently for Trump and pumped $75 million – other media say it was $119 million – into his election campaign. He also diligently supported him with contributions to X.
Musk spread fake news
According to a report by the Center for Countering Digital Hate (CCDH), he is said to have spread disinformation through his platform. The nonprofit found 87 messages from Musk about the U.S. election that fact-checkers said contained false or misleading information.
These posts, which were viewed a total of two billion times, spread, among other things, the widely debunked claim that Democrats were bringing millions of illegal immigrants into the country to win their votes, Spiegel reports. The 53-year-old also started a million dollar lottery, for which he was taken to court.
The reasons for the tech billionaire’s involvement: Musk supported Trump out of concern that Democrats could restrict freedom of speech, which is not only a personal concern for Musk but – according to him – also the business basis for his Platform
He also criticizes the ‘wokeness’ (commitment against racist, sexist and social discrimination in particular, note) of the Democrats – an attitude he shares with Trump.
Donald Trump’s victory confirmed
An effort that was worth it. Trump was declared the winner of the US elections shortly before 12:00 (CET). The ex-president (2017-2021), who was not re-elected in 2020 and lost to the Democrats’ incumbent Joe Biden, has the number of voters needed for a victory for a comeback
Source: Krone
I am Ida Scott, a journalist and content author with a passion for uncovering the truth. I have been writing professionally for Today Times Live since 2020 and specialize in political news. My career began when I was just 17; I had already developed a knack for research and an eye for detail which made me stand out from my peers.
