US Election Results: With Trump inching towards victory, his backer Elon Musk’s Tesla’s shares soar

Elon Musk has been the azygous largest contributor and astir vocal proponent of Trump’s re-election campaign. He is not lone seen connected signifier astatine rallies but besides offers currency prizes to imaginable Republican voters. He besides utilized his societal media level X to amplify enactment for the Trump campaign.

Musk had archetypal endorsed Trump arsenic the Presidential campaigner successful July 2024, soon aft the assassination attempt. Musk had said that Trump needed to triumph “to sphere democracy” and suggested Ohio Senator JD Vance arsenic Trump’s imaginable moving mate.

Earlier, Musk besides made his debut astatine a governmental rally successful Butler, Pennsylvania, the tract of the assassination attempt. He described himself arsenic “dark MAGA”, alluding to a hardline blimpish mentation of the “Make America Great Again” values that Trump has espoused.

The Wall Street Journal past period uncovered that Elon Musk softly began extending millions of dollars successful donations from 2022 onwards to Republican groups aligned with Trump and erstwhile Republican Presidential hopeful, Ron DeSantis.

A quarterly filing with the US Securities and Exchange Commission successful October revealed that Musk, the sole donor to America PAC, spent astir $75 cardinal to enactment Trump’s predetermination bid betwixt July and September. The PAC has focused efforts connected plaything states and initiatives similar Musk’s outreach to mobilise undecided voters successful the upcoming election. The sway helium holds done the ownership of X, and his important idiosyncratic wealth, are seen arsenic large assets for the Trump campaign.