November 8, 2024 - Elon Musk, the CEO of Tesla and SpaceX, has emerged as the biggest beneficiary of the recent US presidential election. With Donald Trump securing a second term in office, Musk's strategic support for the former president appears to be paying off significantly.
Musk, who has been a vocal supporter of Trump, contributed millions of dollars to his campaign and actively participated in rallies. His efforts have not gone unnoticed, as Trump acknowledged Musk's support during his victory speech, calling him "an amazing guy" and a "new star."
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| Elon Musk Emerges as Biggest Beneficiary of US Election |
The election results have already had a positive impact on Musk's business ventures. Tesla shares surged by 12% in anticipation of Trump's policies favoring the electric vehicle industry. Analysts believe that Tesla, with its unmatched scale and scope, will benefit greatly from a non-EV subsidy environment and higher tariffs on Chinese EV players.
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| Elon Musk Emerges as Biggest Beneficiary of US Election |
Moreover, Musk's companies have been significant beneficiaries of government contracts, with SpaceX securing substantial deals over the past year. Trump's administration is expected to continue supporting Musk's ventures, providing a competitive advantage in the tech and space industries.
As Musk continues to navigate the political landscape, his influence and success are likely to grow, making him one of the most prominent figures in both the business and political arenas.
