Tesla shares surge during post-election rally
Tesla reached a market value of $1 trillion for the first time in two years, coinciding with Donald Trump’s election victory. Read Full Article at RT.com
TroibNews 
Tesla's stock has continued to rise following the US presidential election, increasing by more than 38% since Donald Trump’s win. On Monday, shares of the electric-vehicle manufacturer jumped nearly 8%, building on last week's impressive surge of nearly 30%.
CEO Elon Musk has shown strong support for Trump, contributing about $130 million to the Republican campaign amidst speculation that he might be appointed to an official position in the new administration.
The post-election surge in Tesla's stock has pushed its market value past $1 trillion for the first time in two years. This rise places Tesla's worth higher than that of the next 15 largest carmakers combined, as reported by Forbes. Following Trump’s election win, Musk's net worth has also soared to over $300 billion.
Tesla shares last closed above $350 in April 2022, shortly after Musk disclosed his plan to acquire Twitter for $44 million.
Throughout his campaign, Trump hinted several times that Musk could receive an official role within his administration, suggesting the billionaire CEO might oversee “government efficiency.”
Musk has repeatedly raised alarms about the US heading towards bankruptcy, advocating for “a radical reduction of government expenditures” and claiming that current spending is fueling inflation.
As reported by the Financial Times, any advisory role Musk might hold under Trump would be arranged to ensure he retains control of his businesses, including Tesla, X, SpaceX, xAI, and Neuralink. He is said to be aiming to “exert power by installing longtime deputies, engineering experts, financial backers and ideological partners at government agencies,” according to the Times.
ABC News indicated on Monday that Musk has been at Trump’s Mar-a-Lago resort in Florida “nearly every day” since the election and is reportedly influencing staffing decisions for the incoming administration.
Previous reports mentioned that Musk participated in a call between Trump and Ukrainian President Vladimir Zelensky the day after the election. After the call, Musk commented on X that the conflict in Ukraine “will end soon” and that “time is up for the warmonger profiteers,” although he did not confirm his involvement in the call. According to sources, Musk also took part in a subsequent call between Trump and President Erdogan of Türkiye.
Olivia Brown for TROIB News
CEO Elon Musk has shown strong support for Trump, contributing about $130 million to the Republican campaign amidst speculation that he might be appointed to an official position in the new administration.
The post-election surge in Tesla's stock has pushed its market value past $1 trillion for the first time in two years. This rise places Tesla's worth higher than that of the next 15 largest carmakers combined, as reported by Forbes. Following Trump’s election win, Musk's net worth has also soared to over $300 billion.
Tesla shares last closed above $350 in April 2022, shortly after Musk disclosed his plan to acquire Twitter for $44 million.
Throughout his campaign, Trump hinted several times that Musk could receive an official role within his administration, suggesting the billionaire CEO might oversee “government efficiency.”
Musk has repeatedly raised alarms about the US heading towards bankruptcy, advocating for “a radical reduction of government expenditures” and claiming that current spending is fueling inflation.
As reported by the Financial Times, any advisory role Musk might hold under Trump would be arranged to ensure he retains control of his businesses, including Tesla, X, SpaceX, xAI, and Neuralink. He is said to be aiming to “exert power by installing longtime deputies, engineering experts, financial backers and ideological partners at government agencies,” according to the Times.
ABC News indicated on Monday that Musk has been at Trump’s Mar-a-Lago resort in Florida “nearly every day” since the election and is reportedly influencing staffing decisions for the incoming administration.
Previous reports mentioned that Musk participated in a call between Trump and Ukrainian President Vladimir Zelensky the day after the election. After the call, Musk commented on X that the conflict in Ukraine “will end soon” and that “time is up for the warmonger profiteers,” although he did not confirm his involvement in the call. According to sources, Musk also took part in a subsequent call between Trump and President Erdogan of Türkiye.
Olivia Brown for TROIB News
