---
title: "Tesla reaches $1 trillion market cap following Trump’s election victory"
publisher: "Share Talk"
author: "sharetalk"
published: "2024-11-09T09:48:59+00:00"
modified: "2024-11-09T09:48:59+00:00"
date: 2024-11-09
canonical: "https://www.share-talk.com/tesla-reaches-1-trillion-market-cap-following-trumps-election-victory/"
category: "Automobiles, Parts & Engineering"
categories: ["Automobiles, Parts & Engineering", "B2B", "Blogs", "Business & Support Services", "Technology", "Technology, Media & Telecoms"]
tags: ["Beijing", "china", "Donald Trump", "Dow Jones", "electric vehicle", "Elon Musk", "Gigafactory", "New York", "S&P 500", "shanghai", "Tesla", "White House"]
image: "https://i0.wp.com/www.share-talk.com/wp-content/uploads/2024/04/Tesla-2-apr-24.webp?fit=1200%2C800&ssl=1"
format: "news"
language: "en-GB"
---

# Tesla reaches $1 trillion market cap following Trump’s election victory

**Published:** November 9, 2024
**Author:** sharetalk
**Categories:** Automobiles, Parts & Engineering, B2B, Blogs, Business & Support Services, Technology, Technology, Media & Telecoms
**Tags:** Beijing, china, Donald Trump, Dow Jones, electric vehicle, Elon Musk, Gigafactory, New York, S&P 500, shanghai, Tesla, White House
**Featured image:** ![](https://i0.wp.com/www.share-talk.com/wp-content/uploads/2024/04/Tesla-2-apr-24.webp?fit=1200%2C800&ssl=1)

---

Tesla’s market valuation has surged past $1 trillion, fueled by a sharp rise in its share price following Donald Trump’s election win.

The electric vehicle maker’s shares jumped over 6% as trading began in New York on Friday, pushing CEO Elon Musk’s net worth above $300 billion.

Tesla’s stock has climbed more than 20% since Trump secured his victory early Wednesday, marking the first time the company has surpassed a $1 trillion market cap since 2022.

Musk, a vocal supporter of Trump, contributed over $130 million to his campaign and is expected to take on a role as an efficiency advisor in the new administration, despite Trump’s skepticism about electric vehicles.

Analysts predict Tesla will benefit significantly from a Trump presidency, with the administration likely easing regulatory barriers for the launch of self-driving cars and robotaxis across the U.S.

Dan Ives, an analyst at Wedbush Securities, commented, “Tesla and Musk are the biggest beneficiaries of a Trump White House.” He added that Musk’s backing of Trump would yield “long-term dividends.”

However, Trump’s pledge to impose steep tariffs of up to 60% on imports from China could spark a trade war, posing a potential risk to Tesla, which operates a large gigafactory in Shanghai and could face retaliation from Beijing.

The broader U.S. stock market hit record highs this week as Trump’s victory reduced fears of a contested election. Both the Dow Jones and the S&P 500 have risen more than 4% as of Friday.

---

**Original URL:** https://www.share-talk.com/tesla-reaches-1-trillion-market-cap-following-trumps-election-victory/
*Created by [WP Markdown Endpoint](https://wpmarkdownendpoint.com/)*