Elon Musk’s net worth rose by $7.5 billion on Wednesday as Tesla shares jumped 5%, despite lower-than-expected Q1 revenue and profits, according to Forbes. Investors responded positively to Musk’s renewed commitment to Tesla, following backlash over his leadership of the Department of Government Efficiency and his $288 million donation to Trump’s campaign. Analysts welcomed the shift, noting momentum from Tesla’s June robotaxi launch and early production of a new affordable EV line. Tesla shares are down nearly 34% year-to-date, underperforming the S&P 500, due to uncertainty over Trump’s tariff policies and mounting recession fears.
