Trump wins, Elon Musk's net worth increases by more than $20 billion

Elon Musk 's net worth increased by $20 billion following Donald Trump's election victory, reaching $285.6 billion, up more than 7.5% in one day, according to Forbes .
Tesla shares also rose nearly 15% on November 6, to their highest level since September 2022. Musk celebrated Trump's victory before the official results were announced.

Elon Musk was quick to celebrate Trump’s victory on the X platform, stressing that the American people had given Trump a “ clear mandate ” for change. On November 7, after the US Justice Department dropped charges against Trump,
Musk added that “ the American people have spoken loud and clear .” Musk, who campaigned with Trump in Pennsylvania , has donated at least $119 million to a pro-Trump super PAC, according to The New York Times. 

   Many billionaires saw their fortunes increase after Trump's victory. Jeff Bezos increased his fortune by $7 billion to $223.5 billion as Amazon shares rose 3.8%. Coinbase CEO Brian Armstrong increased his fortune by $2.6 billion to $11 billion as shares rose 31%.
MicroStrategy 's Michael Saylor made nearly $600 million as shares rose 13%. Dogecoin, which Musk promoted, rose 40% to $0.21, its highest since April. Meanwhile, Trump-themed memecoins fell more than 50%.