Musk Posts Regret, Achieves Immediate Financial Gain
Elon Musk, the world's richest man, recently apologized for his comments about US President Donald Trump. He made a post on his X account, saying that he regrets what he said and wants to make amends. This one post greatly added to his riches.
Stock Market Responds Positively
Musk's tweet arrived early on Wednesday morning, US time. In it, he stated, "I regret my posts on US President (Donald Trump). They went too far." Shortly thereafter, the White House announced that President Trump had accepted Musk's apology. This led to a positive turn in the US stock market.
Consequently, Musk's net wealth grew by $191 million (about ₹1,600 crore). Tesla stocks also rose by 0.10% to a value of $326.43.
Past Losses and Political Standoffs
Earlier, Tesla stock plummeted sharply as there were tensions between Trump and Musk. The tension started when the US government criticized the "Big Beautiful Bill," which was backed by Musk. Musk retaliated by accusing Trump of having ties with Jeffrey Epstein and stating that Trump might have lost the presidential election without his help.
After these words, President Trump reacted sharply. He threatened that government subsidies and contracts to Musk's firms could be cut. Having done this, Musk retreated and offered his apology.
Current Valuation and Recovery
Even after the earlier drop of 14% in Tesla's stock price—resulting in a loss of nearly $152 billion in market value—the shares have now to some extent regained their ground. As per Forbes, Musk's net worth as a whole has increased to $411.4 billion.
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