Elon Musk Is Now the $300B Man

Meet the $300 billion man. That would be Elon Musk, according to Forbes, which reports that Tesla racked up big bucks from Donald Trump's election win, with the company's market value surpassing $1 trillion on Friday for the first time since April 2022, per YCharts. The 53-year-old billionaire added $10 billion to his portfolio as a result of Friday's stock rally, after a banner day on Wednesday that added $26.5 billion to his portfolio in the hours after Trump's win. This latest windfall puts him about $70 billion ahead of Forbes' No. 2 on its billionaires list, Oracle co-founder Larry Ellison, whose net worth now comes in at around $230 billion.

NBC News notes that Tesla stocks have enjoyed a 23% jump since Wednesday. The boost to Tesla's bottom line almost doubled what the EV maker was worth just six months ago. Forbes notes that shares may have been hot due to the prospect of streamlined regulation for Tesla under a Trump administration, as well as possible new tariffs on Chinese imports and the nixing of federal tax credits for electric vehicles. Tesla's trillion-dollar-plus valuation has now placed it among the ranks of such companies as Meta, Apple, Microsoft, Nvidia, and Amazon, per NBC. (More Tesla stories.)