How Elon Musk & His Companies Will Be Impacted By Trump's Election Victory

Over the last few months, Elon Musk fully threw his weight and full support behind Donald Trump, campaigning alongside him in several rallies. He also appeared on many podcasts to speak in favor of Trump, and utilized X widely to spread goodwill for the former president. Additionally, he spent more than a $100 million to support the candidate, Donald Trump.

Now that Trump has won the presidential elections, how will this affect Elon and his companies, and what does he stand to gain from this election victory?

Firstly, while campaigning, Trump floated the idea of making Elon the head of a new government department yet to be created, the Department of Government Efficiency, which Musk termed DOGE, a reference to the cryptocurrency, DOGE.

Musk has said repeatedly that the government is over bloated and needs to be trimmed. A complete financial and performance audit of the entire federal government is required, Trump has said. Unlike with X, Musk has however said job cuts will be done in a humane way, and affected employees could be paid for up to two years while they find other jobs.

Obviously, the election win is expected to boost the value of Musk’s various enterprises, including Tesla, SpaceX, Starlink, Neuralink, The Boring Company, and X.

Already, Musk’s network has increased by $12 billion just a day after Trump was announced winner of the presidential elections.