For Elon Musk, bromance with Donald Trump is good for business — for now: portfolio manager
Time will tell what the next four years will mean for markets, but in the short term at least, it’s clear that at least one investor is benefiting mightily from the advent of the next Trump administration: Elon Musk
This week, Bloomberg News reported that Musk’s rocket and satellite maker SpaceX is in talks to issue new equity in a tender offer that values the company at US$350 billion — an increase from $255 billion U.S. earlier this year.
Greg Martin, managing director at Rainmaker Securities, says the close relationship between Elon Musk and Donald Trump is a factor in both the timing and the valuation of the funding round.
“Musk made a very big bet on Donald Trump,” said Martin in an interview with BNN Bloomberg. He says it’s noteworthy that shares in electric car maker Tesla have risen by almost 50 per cent since the election, despite being in an industry that isn’t poised to benefit under Trump policies…Read Full Article