Shares in Tesla experienced a sharp rise in pre-market trading on Wednesday, following the announcement of Donald Trump’s victory in the US presidential election.
Backed by Tesla’s CEO, Elon Musk, Trump celebrated his success in a speech at his campaign headquarters in Florida, which helped fuel the surge in Tesla’s stock.
Tesla’s Stock Performance
Tesla’s stock price saw an impressive 13% increase, reaching $283.97 (R5,000) in after-hours trading.
This occurred just hours before the opening bell at Wall Street, reflecting growing investor confidence following the election news and Musk’s vocal support of Trump.
Musk’s Wealth Soars
Elon Musk, who was born in South Africa, is continuing to see his wealth grow.
In just the last 24 hours, he has added $4.8 billion to his fortune, according to the Real-Time Forbes Billionaires list.
As of now, Musk’s net worth stands at a staggering $264.7 billion, solidifying his position as the world’s richest individual.
What’s Next for Tesla and Musk?
With such a significant increase in stock value and Musk’s fortune soaring, the question remains: what’s next for Tesla and its CEO?
As the world’s attention turns to the next steps in both the company’s future and Musk’s personal wealth, all eyes are on what may come next.
