Trump, latest announcement! 'First brother' Musk: 'America is racing towards bankruptcy!' His personal wealth surged by 600 billion yuan in less than 20 days, and Tesla's stock price skyrocketed by 40%.
The elected President Trump on the same day nominated former Trump administration policy advisor Brooke Rollins as Secretary of Agriculture. Trump stated that Brooke is committed to supporting American farmers, defending U.S. food self-sufficiency, and restoring reliance on agriculture in American small towns.
On November 22 local time, the elected President Trump posted on social media, announcing multiple cabinet official nominations after taking office.
Nominated Janette Nesheiwat as Director of the U.S. Public Health Service. Nesheiwat is a medical contributor for Fox News. Nominated former Congressman Dave Weldon as Director of the Centers for Disease Control and Prevention; nominated former State Department official Alex Wong as Deputy National Security Advisor; nominated surgeon Marty Makary as Commissioner of the U.S. Food and Drug Administration; and nominated Scott Turner as Secretary of the U.S. Department of Housing and Urban Development, who is a former NFL player.
Previously, he also nominated billionaire Scott Bessent, founder of Key Square Group, for Secretary of the Treasury; nominated Russell Vought as Director of the Office of Management and Budget after taking office; and nominated Oregon Congressman Lori Chavez-DeRemer as Secretary of Labor after taking office.
U.S. 'Department of Government Efficiency': Must balance the budget
Musk: America is racing towards bankruptcy
On the 23rd local time, the 'Department of Government Efficiency' proposed by the elected President Trump wrote on social media platform X, 'In fiscal year 2023, U.S. government spending was $6.16 trillion, with revenue only $4.47 trillion. The last time there was a budget surplus was in 2001. This trend must be reversed, and we must balance the budget.'
Subsequently, the leader of the 'Department' announced by Trump, entrepreneur Musk, retweeted and commented, stating, 'America is currently racing towards bankruptcy at super fast speed.'
Musk's social media screenshot
As a major donor to Trump's presidential campaign, Musk has now become a prominent figure in Trump's inner circle.
U.S. media 'Insider News' reports that after Trump's victory, Musk and Trump have been inseparable, playing the role of America's 'First Buddy'. Bloomberg's senior reporter Dana Hull also stated that Musk is like a de facto vice president, playing a role in shaping the future development framework of the U.S. federal government.
According to CCTV News on November 13, on November 12 local time, the elected President Trump announced several appointments.
On November 12 local time, Trump announced that Musk would collaborate with Indian-American entrepreneur Vivek Ramaswamy to lead the newly established 'Department of Government Efficiency' to formulate strategies to improve government operational efficiency.
Trump said, 'The Department of Government Efficiency' will 'pave the way for dismantling government bureaucracy, cutting excess regulatory rules and wasteful spending, and restructuring federal agencies.'
Musk's net worth skyrockets to a record high
Tesla's stock price soars
According to CCTV Finance on November 23, thanks to the recent sharp rise in Tesla's stock price, the world's richest man, Tesla founder Elon Musk, has seen his wealth increase significantly, reaching a historic high.
As of the market close on the 22nd, Tesla's stock price rose by 3.8% to $352.56 per share, reaching a new closing high since the first half of 2022, with a total market capitalization of $1.13 trillion.
According to a report from CNN on the 22nd, the latest data from the Bloomberg Billionaires Index shows that Tesla founder and CEO Musk's personal net worth reached $347.8 billion, approximately 2.52 trillion yuan, breaking the record he set in November 2021.
Reports say that since the U.S. presidential election on November 5, Tesla's stock price has risen by about 40%, and Musk's personal wealth increased by approximately $83 billion, about 601.4 billion yuan. Some market participants believe this is mainly because the market bets that Tesla will benefit from the policies related to the second term of the elected President Trump.
According to previous reports by brokerage China citing Bloomberg news, insiders revealed that the team of elected President Trump plans to make 'building a federal framework for fully autonomous vehicles' one of the priorities of the U.S. Department of Transportation.
Reports say that Musk has pinned Tesla's future on autonomous driving technology and artificial intelligence (AI). If new regulations enable fully autonomous vehicles, Musk will directly benefit.
In the third quarter of 2024, Tesla achieved revenue of $25.182 billion, an 8% year-on-year increase; net profit was $2.167 billion, a 17% year-on-year increase; gross margin increased to 19.8%, an increase of about 2 percentage points year-on-year; excluding profits from other businesses and carbon credits, its automotive gross margin was as high as 17.1%. Both net profit and gross margin levels far exceeded market expectations.
In terms of sales, Tesla's global electric vehicle deliveries in the third quarter of 2024 were approximately 463,000 units, setting a new quarterly delivery record for 2024. During the same period, Tesla welcomed its 7 millionth vehicle off the production line on October 22.
Tesla CEO Elon Musk has also released very optimistic expectations. He predicts that car sales will grow by 20% to 30% in 2025, unless a significant negative event occurs.
