Tesla’s stock jumped by 12% on Wednesday, hitting over $280 and setting a new high, as Donald Trump praised Elon Musk following his projected re-election win.
This stock rise added approximately $15 billion to Musk’s wealth, bringing his net worth to $280.3 billion.
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Musk, an outspoken Trump supporter, invested heavily in Trump’s campaign, contributing at least $118 million through his America PAC, which also attempted to award $1 million to voters in swing states.
Trump praised Tesla’s chief executive as a “super genius” and a “new star” during his victory speech early Wednesday, after Musk spent weeks campaigning for Trump throughout Pennsylvania before Election Day.
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