The Blubber

Musk’s Companies See Mixed Fortunes Post-Election

Elon Musk’s businesses have experienced dramatic shifts in value following the recent election, with Tesla, SpaceX, xAI, and X all making headlines for different reasons.

Tesla’s Surge and Retreat

Among Musk’s ventures, Tesla saw the biggest immediate boost. In the six weeks after the election, the automaker’s stock nearly doubled, hitting an all-time high and pushing Musk’s personal fortune to a record $486.4 billion on Dec. 17—the highest net worth ever recorded on Bloomberg’s wealth index.

Since then, however, Tesla’s stock has dropped by 25%, though the company still holds a $1.17 trillion valuation.

SpaceX Becomes World’s Most Valuable Startup

SpaceX and its investors finalized a December deal to purchase insider shares, valuing the company at $350 billion—a 67% jump from its previous tender offer just six months earlier. The new valuation cemented SpaceX’s position as the most valuable private tech company in the world.

However, Musk’s government ties may be in question, as President Trump announced Tuesday that he would not allow Musk to participate in any space-related federal contracts.

xAI Seeks Billions in AI Expansion

Musk’s artificial intelligence startup, xAI, made waves this week with the launch of its Grok-3 chatbot. The company is currently in advanced talks with Dell Technologies to secure over $5 billion in server capacity for training and deploying its AI models.

Following the election, xAI raised funds at a valuation exceeding $40 billion, and is now exploring a new deal that could nearly double its worth.

X Sees a Surprise Rebound

Perhaps the most unexpected turnaround came from X, the social media platform formerly known as Twitter. When Musk bought the company for $44 billion in 2022, many dismissed the deal as a failure after advertisers fled and the platform suffered service disruptions. By October, Fidelity Investments had slashed X’s valuation by nearly 72%.

However, X’s financial standing has improved, with banks recently offloading $4.74 billion of its debt at face value—borrowings that were previously shunned by investors.

Despite ongoing challenges, Musk’s business empire remains a focal point of financial and political intrigue as the post-election landscape continues to evolve.