Following Donald Trump’s victory in the U.S. presidential election, Tesla’s market value surged past the $1 trillion mark. Last Friday, November 8, the company’s stock price rose by 8%, pushing Tesla back into the exclusive club of trillion-dollar companies. Elon Musk, CEO of Tesla, reportedly invested $1.3 billion in support of Trump’s campaign, a move that appears to have paid off as Tesla shares climbed 29% in the week following Trump’s election win.
Prior to the election, Tesla’s market value was slightly above $800 billion, and the company’s stock has increased by 30% since the start of the year. Tesla now joins the ranks of other tech giants like Nvidia, Apple, Microsoft, Alphabet, Amazon, and Meta in the trillion-dollar club, ranking as the world’s ninth most valuable company.
