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For Elon Musk, bromance with Donald Trump is good for business — for now: portfolio manager

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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

Ivonne Flores Kauffman, BNN BloombergGreg Martin, managing director of Rainmaker Securities, says Elon Musk and Donald Trump's close relationship may bring advantages to SpaceX and Tesla.

in a tender offer that values the company at US$350 billion — an increase from $255 billion U.S. earlier this year. “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.

Musk is benefiting from being in the incoming president’s good graces for now, but things can change, Martin said.

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