Elon Musk, a 'Trump Insider,' Earns 29 Trillion Won from US Presidential Election

US Billionaires' Asset Values Increase Simultaneously

After the confirmation of President-elect Donald Trump's victory in the U.S. presidential election, the U.S. stock market collectively showed a strong performance, benefiting billionaire CEOs. In particular, Elon Musk, CEO of Tesla and a 'close associate' of President-elect Trump, is estimated to have increased his wealth by up to approximately 29 trillion won, while the asset values of other leading American billionaires also saw significant growth.

The American economic media outlet Business Insider identified Musk as the individual who made the most money from the so-called 'Trump Trade' on the 6th (local time). In addition, other prominent American billionaires such as Larry Ellison, CEO of Oracle; Warren Buffett, Chairman of Berkshire Hathaway; Jeff Bezos, founder of Amazon; and Larry Page, co-founder of Alphabet, also experienced substantial increases in their wealth.

In his victory speech, President-elect Trump emphasized, "Musk is the most important person in America and a new star." Musk was also one of the billionaires who most actively supported Trump's presidential campaign, and there were mentions that he might take charge of a government efficiency reform department in the upcoming new administration.

After the election results were announced, Musk posted a photo on his official X account showing himself holding a 'sink' superimposed with the White House, showcasing his close relationship with President-elect Trump.

Photo posted by CEO Musk.
[Image source=X capture]

The stock price of Tesla, led by CEO Musk, surged about 15%. As a result, the value of Musk's Tesla shares increased, boosting his wealth by $20.9 billion (approximately 29 trillion won) in a single day. Musk's total net worth is reported to be $285.6 billion (approximately 395 trillion won).

Larry Ellison, CEO of Oracle, a global database management software company, also saw his wealth increase by $11.7 billion (approximately 16 trillion won) due to the stock price surge. Warren Buffett's wealth reportedly rose by $7.6 billion (approximately 10 trillion won). Additionally, Jeff Bezos's wealth increased by $7 billion (approximately 9.6 trillion won), and Larry Page's wealth grew by $5.3 billion (approximately 7.34 trillion won).