Elon Musk has backed Donald Trump to return to the Oval Office, and his bet has paid off. Musk is now deeply involved in key Trump administration discussions with world leaders and heads a government department, solidifying his role as a close aide to the incoming U.S. president. This new position has elevated his influence and power to unprecedented levels.
Investments tied to Musk have surged, catapulting him back to the top as the world’s richest man. His wealth has soared to $326 billion—more than double that of LVMH’s Bernard Arnault, whose net worth stands at $160 billion.
This led me to wonder: can we create a portfolio that effectively bets on Elon Musk? Considering his diverse interests and ventures, it’s possible to build a portfolio of publicly available investment options that align with Musk’s influence. Here’s what I’ve gathered:
#1 Tesla (TSLA)
This is the most obvious bet. Musk serves as Tesla’s CEO and is its largest shareholder, with a 22% stake that forms the majority of his wealth. Tesla stock is a direct reflection of Musk’s success.
Tesla faced challenges earlier this year, including slowed growth and intense competition from BYD. However, since the U.S. Election Day (5 Nov 2024), Tesla’s stock has rebounded, climbing 35%. It now outpaces the S&P 500 year-to-date and has regained its trillion-dollar market cap.
#2 Destiny Tech100 (DXYZ)
This investment holding company, which IPO’d in March, may not have an obvious connection to Musk at first glance. However, a closer look reveals that SpaceX, where Musk is CEO, makes up 36.9% of its portfolio.
SpaceX recently achieved a groundbreaking milestone by relanding a rocket using precision “chopstick” mechanisms. Since SpaceX is private, DXYZ offers one of the only ways to invest in it indirectly. DXYZ’s stock has surged 245% since Election Day, driven by its Musk association.
#3 Dogecoin (DOGE)
Originally created as a joke, Dogecoin became a cultural phenomenon, with Musk playing a key role in its rise. In 2019, Musk famously called it his “fav cryptocurrency” on X. Even the Department of Government Efficiency (DOGE), which Musk now leads, humorously shares its abbreviation with Dogecoin—a likely deliberate nod.
Dogecoin has gained 156% since 5 Nov 2024. While it is easily accessible via crypto exchanges, investors should be aware of the risks as these platforms are often unregulated.
#4 Dell (DELL) and Super Micro Computer (SMCI)
Both Dell and SMCI are key suppliers to Musk’s xAI, providing AI servers for the supercomputer xAI is building. Dell supplies XE 9680 servers, while SMCI has provided liquid-cooled AI servers. However, SMCI’s stock plummeted due to a U.S. Department of Justice investigation, leading to rumors that Musk may shift orders away from the company.
Since Election Day, SMCI’s stock rose 27%, while Dell’s initially climbed but fell 12% after disappointing revenue guidance. While these companies are benefiting from their xAI ties, their association with Musk is weaker as they supply to multiple clients.
#5 Nvidia (NVDA)
Nvidia is critical to Musk’s AI ambitions. xAI relies on Nvidia’s H100 chips, with Musk diverting Tesla and X’s chip orders to xAI. Currently, xAI uses 100,000 Nvidia H100 chips and plans to raise $6 billion to purchase another 100,000. Musk also hinted that future AI computing may require up to 300,000 of Nvidia’s next-gen Blackwell chips.
Despite this demand, Nvidia’s stock has fallen 3% since Election Day. This is likely due to tempered investor enthusiasm following its recent earnings report, which, while strong, seems to have already been priced into the stock.
The Musk Portfolio
These six investments—Tesla, Destiny Tech100, Dogecoin, Dell, Super Micro Computer, and Nvidia—represent diverse ways to bet on Musk’s influence. While Tesla and SpaceX-linked Destiny Tech100 offer direct exposure to Musk’s leadership, others like Dogecoin and Nvidia benefit from his broader ambitions.
I would like to include more stocks for diversification, but the limitation is that many of Musk’s other ventures, such as xAI, X, Neuralink, and The Boring Company, are private companies, making it difficult to gain direct exposure to them.