Elon Musk's "fruits of victory": SpaceX and xAI valuations soar

Elon Musk is expected to become the world's first trillionaire! After a big gamble on Trump's overwhelming victory, Musk's business empire is rapidly expanding.

According to previous news reports, SpaceX is preparing to launch a tender offer in December, planning to sell internal shares at a price of $135 per share, which will push the company's valuation to over $250 billion, setting a new record for the valuation of a private company in the U.S. Additionally, Bloomberg reported that SpaceX is in preliminary discussions to sell shares to insiders , which could bring the company's valuation to about $255 billion.

Musk's other AI startup, xAI, recently completed a new round of financing of $5 billion, and the company's valuation is expected to double to $45 billion compared to the previous round of financing completed in May this year.

It is reported that this financing will likely be used to purchase 100,000 NVIDIA chips for building xAI's data center in Memphis, Tennessee. Of the funds raised, $5 billion is expected to come from sovereign wealth funds in several Middle Eastern countries.

With the surge in Tesla's stock price driven by the "Trump deal," the stock has risen more than 25% since November 5, increasing its market capitalization by about $225 billion, briefly crossing the trillion-dollar mark.

Thanks to the soaring valuations of his companies, Musk's overall net worth has also significantly increased. According to the Bloomberg Billionaires Index, Musk's net worth has now risen to $306.5 billion, a year-on-year increase of 33.8% ($77.5 billion).

In September, the wealth tracking website Informa Connect released a report stating that by 2027, Musk could become the world's first trillionaire.

After Trump's election, Musk's company valuations "rise with the tide"

As a core member of the incoming President Trump's circle, Musk's companies are attracting a lot of capital.

Investors generally believe that with the "backing" of the Trump administration, Musk's business empire is expected to gain broader growth prospects.

In fact, Musk's businesses were "heavily suppressed" during the Biden administration:

Reports indicate that after Biden took office, he strengthened support for electric vehicles and invited car companies to participate in events related to electric vehicles multiple times, but never invited Musk to attend.

Analysts say that Tesla is the only automaker in the U.S. without a union, and has therefore been under scrutiny from federal regulators, with the Biden administration's tough stance harming Musk's interests.

Although NASA funded SpaceX's work in commercial crew missions, its moon landing plan was abruptly "changed": it canceled SpaceX's exclusive status and diverted orders to competitors like Blue Origin and Boeing.

In comparison, [Wall Street Journal previously mentioned](https://wallstreetcn.com/articles/3734148? keyword=Trump's plan to terminate electric vehicle subsidies may be a good thing for Tesla. This is because Tesla vehicles that directly purchase core components rather than being produced domestically do not qualify for full subsidies, and the cancellation of subsidies will bring greater losses to Tesla's competitors.

Moreover, Trump's policies tend to relax regulations and encourage technological innovation, providing a favorable policy environment for Musk's "Mars plan."

At a Democratic campaign event held in October, Biden stated that before becoming the world's richest person, Musk started his career in the U.S. as an "illegal worker":

"That richest person in the world (Musk) was originally an illegal worker when he was here."