Elon Musk’s net worth surged by $20 billion following Donald Trump’s recent presidential election victory, elevating his total wealth to $285.6 billion after a 7.5% rise in one day. Tesla’s stock saw a nearly 15% increase, reaching its highest price since September 2022. Musk, a significant financial supporter of Trump, celebrated the election results on his social media platform X, claiming Trump received a clear mandate for change. The financial climate post-election also benefitted other billionaires; Jeff Bezos gained $7 billion with Amazon shares climbing to an all-time high, while Coinbase CEO Brian Armstrong's wealth rose by $2.6 billion. Additionally, the popular memecoin Dogecoin rose by 40%, reaching a peak price not seen since April, although Trump-themed cryptocurrencies underperformed. Musk had invested a notable $119 million in Trump’s campaign, demonstrating the stakes he had in the outcome of the election.

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