Elon Musk Is Already Making Bank off Trump’s Win
The richest man in the world just got richer off our presidential election.
Billionaire CEO and Trump hype man Elon Musk saw stock for his Tesla company go through the roof, mere hours after Donald Trump defeated Kamala Harris in the presidential election. The electric vehicle company saw an 11 percent increase in its stock Wednesday morning.
Investors believe that Tesla will be positively impacted by another Trump presidency, as he has promised to enact tariffs on Chinese imports, which could be particularly beneficial for the electric vehicle maker.
Musk was Trump’s second-largest funder this election, even handing out $1 million a day to voters in swing states (many in Pennsylvania) if they signed his petition in support of Trump and the Constitution. He became a close confidant to the former president and now president-elect as a result. Musk dutifully followed Trump from campaign stop to campaign stop, jumping awkwardly for joy and outlining his plan to cripple the federal government with massive cuts to the budget.
“Elon will likely be rewarded with some efficiency czar position, which could accelerate adoption of a single autonomous driving standard instead of 50 different state regulations,” shareholder Gary Black said Wednesday on social media.
Musk has already agreed to head what he and Trump call the Department of Government Efficiency, or “DOGE.” Musk has promised to cut $2 trillion from the government budget and to launch a “complete financial and performance audit of the entire federal government.”
There are dark days ahead for the rest of us, but at least Musk can continue to line his pockets with no issues.