Elon Musk's net worth has surged past $300 billion following Donald Trump's election victory, reaching $314 billion as of Saturday. This increase of $50 billion since November 5 has solidified Musk's position as the wealthiest person globally, with Jeff Bezos trailing at $230 billion and Mark Zuckerberg at $209 billion.

The surge in Musk's wealth is directly tied to Tesla's stock performance, which has jumped approximately 28% since Tuesday's close. On Friday, Tesla achieved a trillion-dollar market valuation for the first time since April 2022.

Musk's support for Trump during the presidential campaign, including over $100 million in super PAC contributions, appears to be paying dividends. Wedbush analyst Dan Ives suggests that Trump's win could significantly benefit Tesla, as the company is better positioned than competitors in a potential scenario where EV tax credits and incentives are withdrawn.

Ives noted that Tesla's unmatched scale and scope in the EV industry could provide a clear competitive advantage in a non-EV subsidy environment. Additionally, the possibility of higher tariffs on Chinese imports could hinder cheaper Chinese EV manufacturers from entering the U.S. market.

Beyond Tesla, Musk's other ventures like SpaceX may also benefit during Trump's second term. There are indications that a Trump presidency could help SpaceX secure large contracts with the Department of Defense.

The stock market's positive reaction to Trump's victory extends beyond Tesla, with several tech and finance giants experiencing significant gains. By midday Friday, the S&P 500 index had risen 3.6% from Tuesday's close, reflecting broader market optimism.