Elon Musk put $277 million into the election. Now he’s $200 billion richer.
The tech mogul made a big bet on Donald Trump. By one measure, it has paid off handsomely.

December 15, 2024 at 7:55 a.m. EST Today at 7:55 a.m. EST
By Faiz Siddiqui and Trisha Thadani

Elon Musk’s net worth has climbed by more than $200 billion in 2024, a massive increase in the same year that the world’s richest person spent at least $277 million backing Donald Trump and other Republican candidates.

Trump’s election sent stock in electric automaker Tesla, a company central to Musk’s wealth and where he is CEO, soaring. Shares were trading at prices around 70 percent higher on Friday than on Election Day.

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By Faiz Siddiqui
Faiz Siddiqui is a technology reporter with The Washington Post's Business Desk covering companies such as Tesla and Twitter. His area of coverage has also included ride-hailing and the race to build autonomous cars. Prior to that, he covered the D.C. Metro and local transportation scene.follow on X@faizsays

By Trisha Thadani
Trisha Thadani joined The Washington Post in 2023 from the San Francisco Chronicle. She covers the technology industry.follow on X@TrishaThadani