Is Tesla Still a Millionaire-Maker Stock?

With shares up by over 1,700% over the last decade, (NASDAQ: TSLA) has already minted its fair share of wealthy people -- including its famous CEO Elon Musk, the richest man in the world. The recent presidential election victory of Donald Trump seems to have unlocked another bull run. Let's dig deeper into how the new administration could influence Tesla's millionaire-maker potential.

Tesla's CEO Elon Musk played an important role in Trump's 2024 presidential victory. In addition to stumping, the visionary billionaire committed an estimated $200 million to the campaign through his new super PAC, America PAC, which focuses on low-propensity voters. The market seems to be making a connection between Musk's support for Trump and Tesla's economic prospects.

At the time of this writing, the electric automaker has seen its shares rise around 40% since Trump's win, bringing its market cap to $1.1 trillion and adding $70 billion to Musk's personal fortune. But investors who are late to the party should ignore the hype and focus on the potential implications of a Trump presidency on Tesla's fundamentals.

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Source Fool.com