Aside from Donald Trump and his supporters celebrating his most recent win in the 2024 US Presidential Elections, the companies affiliated with or backing him are also seeing triumphs in the market. Companies like Trump Media and Technology Group (DJT) and Tesla (TSLA) are seeing their shares skyrocket in the market today, following the comeback win of the second-timer President.
This recent win only shows the significant effect Trump has on the corporations that back him and those that he supported, with the cryptocurrency industry also seeing wins with Bitcoin reaching an all-time high.
Trump Media, Tesla Shares Skyrocket After Historic Comeback
Reuters reported that companies like Trump Media and Elon Musk's Tesla saw a surge shortly after Donald Trump took the win in the most recent US Presidential elections, with their shares skyrocketing amidst his victory. It will be the second time that Trump will step into the role of the President of the United States, with his platform focusing on an all-American priority once he becomes its next leader.
Trump Media and Technology Group saw a whopping 30 percent rise in the stock market following his win, with the winning candidate owning a majority stake in the company last valued at $5 billion.
On the other hand, the clean energy and vehicle company that his renowned backer, Elon Musk, owns, Tesla, saw a skyrocketing 15 percent surge. Trump previously claimed that he would make Musk lead a government efficiency commission.
Donald Trump Wins 2024 US Presidential Elections
After losing his re-election bid four years ago and suffering a perilous fate after being blocked from social media platforms, Donald Trump is back to the top, particularly in the country's highest seat. His platform also focused on prioritizing America-focused businesses with low taxes and tariffs, with these small-cap companies also benefitting from Trump's win and return to the White House.
Moreover, American 'big' banks like Bank of America, JPMorgan Chase, and Wells Fargo also saw a significant surge in the market following the Republicans' win.
Trump's Companies, Backed Industries
Donald Trump was a renowned businessman and prominent figure in the world before he first ran for office in 2016, and his businesses have evolved since then, even after his downfall in 2021 due to the Capitol riot controversies. Under the Trump Media and Technology Group, there is the famed 'Truth Social' platform which became his haven after facing long-term suspensions in the past year, emulating Twitter.
Most recently, Trump expressed his support for the cryptocurrency industry and claimed that he would make the United States a 'crypto capital' should he be president, also putting a significant highlight on Bitcoin. Alongside this, Trump and his sons also launched the family-owned World Liberty Financial which will serve as the 'escape' from the 'big banks,' and offer Americans financial freedom.
It is believed that once Trump wins, he will bring the cryptocurrency industry to new heights and deliver a new future for the country which fosters the blockchain and digital assets, alongside his other backed corporations. Now, Trump claims his second win and will soon step up as the country's next President, bringing a surge to the companies affiliated with him, including his loyal supporter, Elon Musk's Tesla.
