Donald Trump’s triumph in the 2024 US presidential election not only brought laurels of victory to the former president, and now president-elect, but it has showered his entourage with major gains as well.
The crown jewel of Donald Trump’s posse, his unofficial lieutenant, Elon Musk, has made major gains in these few weeks since his (Trump’s) election victory. Musk recently climbed the pinnacle of wealth when he went past the milestone of USD 400 billion in personal wealth.
This was of course powered by the surge in the value of his companies, particularly his car company, Tesla.
Company Shares Skyrocket
Tesla shares have risen by a monumental 41.66 per cent or USD 141.12 just in the past month of trade. Just in the past week alone, the company shares rose by an impressive 17 per cent.
The Turnaround
In the most recent trading session alone, on Tuesday, December 18, the shares of the company rose by 3.64 per cent or USD 16.84, taking the overall value of the company shares to USD 479.86, inching closer to the coveted USD 500 per share mark.
This remarkable turnaround comes after a disastrous start to 2024. Teh company started the year with record-low sales, and the performance at the equity markets also did not offer any confidence as the share price hovered in the range of USD 175-185 for the longest time.
Tesla is Worth a USD 1.5 Trillion
The company has also risen in prominence on the global scale as well. In terms of market capitalisation, today, Tesla is the eighth largest company, living up to the rest of its counterparts in the ‘Magnificent Seven’ of the US economy. The current value of the company stands at USD 1.540 trillion, the highest it has ever been, in the company’s lifetime. This year the value of tech company has rise by over 90 per cent.
