Tesla shares are up about 35% since then Donald Trump's presidential victorybolstered by Trump's ties to Tesla CEO Elon Musk. Since the electionsTesla added nearby 250 billion dollars in its valuepushing its market cap to over $1 trillion for the first time since 2022.

Tesla is now worth more than Toyota, Ferrari, General Motors, Porsche and Ford combined.

The company's shares have risen over 44% in total over the past month, leaving Musk now richer by 70 billion dollars. Musk spent at least $130 million to help Trump get elected.

Related: The “whale” that bet big on Donald Trump's second presidency actually won $85 million, far more than first reported. Here's how he did it.

Musk is the richest person in the world at the time of writing with a total net worth of $320 billion, according to Bloomberg Billionaires Index. Amazon's Jeff Bezos is in second place with a fortune of $235 billion.

^{Elon Musk. (Photo by Jabin Botsford/The Washington Post via Getty Images)}

Musk also has a new responsibility on his plate. on tuesday, Trump nominated Musk to co-head the new Department of Government Efficiency with fellow billionaire Vivek Ramaswamy.

Both are tasked with cutting government spending, restructuring federal agencies and eliminating unnecessary regulations. They have until July 4, 2026, or the 250th anniversary of the Declaration of Independence, to meet their goals.

Related: Donald Trump hires Elon Musk and Vivek Ramaswamy to bring 'drastic changes' to US government – and gives them a 2-year term