Crypto-friendly Elon Musk has added to his wealth.

After Donald Trump's presidential victory, the world's richest man, Elon Musk, saw his net worth increase by $20 billion, reaching $285.6 billion. As Musk increased his financial support, he continued to exert his influence in the political arena, while Tesla shares reached record levels. Other billionaires also benefited from this rise.

Musk and Other Billionaires Increased Their Earnings with Trump's Victory

The success of Bitcoin and cryptocurrency supporter Donald Trump in the presidential race led to significant increases in the fortunes of leading figures in the technology sector. This development was particularly evident in the cryptocurrency markets as well.

With the announcement of the election results, Elon Musk, the founder of Tesla and SpaceX, saw a significant jump in his wealth. According to data, Musk's net worth increased by 7.5% in one day, reaching $285.6 billion. This $20 billion increase occurred as Tesla shares rose to $286.74, the highest level in the last 18 months.

Commenting on the election results via the social media platform X, Musk emphasized that the support for Trump was "crystal clear." He also noted that the American public spoke with "absolute clarity" after the Department of Justice dropped charges against Trump. According to sources, Musk provided strong support to the campaign by donating $119 million to a political action committee supporting Trump during the election process.

Significant increases in the fortunes of other tech giants were also observed. The record rise in Amazon shares boosted the wealth of the company's founder, Jeff Bezos, by $7 billion, bringing it to $223.5 billion. The wealth of Coinbase CEO Brian Armstrong rose to $11 billion as the company's shares gained 31% in value. Michael Saylor, the founder of MicroStrategy, increased his wealth by $600 million to $6.6 billion as the company's shares reached their highest level of the year.

Finally, the impact of the election results on the cryptocurrency market was also noteworthy. Dogecoin, supported by Elon Musk, surged by 40%, rising to $0.21, marking its best performance since April.