Tesla’s market value soared past $1 trillion on Friday, a milestone it hasn’t reached since early 2022.

The electric vehicle giant's renewed ascent reflects the optimism of investors following Donald Trump's re-election to a second presidential term, supported by Tesla’s CEO, Elon Musk.

Tesla shares surged over 6% on Friday, propelling the company back into the exclusive club of firms valued above $1 trillion.

This elite group includes tech titans such as Nvidia, Apple, Microsoft, Alphabet, Amazon, and Meta, though only the first five surpass Tesla in value.

Tesla last crossed the trillion-dollar mark in October 2021.

A prominent ally of Trump, Musk invested heavily in his campaign, reportedly contributing around $130 million.

Musk’s vocal support and his financial backing have inspired confidence among investors, fueling a rally in Tesla's stock.

Musk’s personal wealth has benefited significantly from Tesla’s gains, with his net worth now exceeding $300 billion for the first time in over two years, according to Forbes.

Musk gained nearly $10 billion in a single day, further widening the wealth gap between himself and his next closest competitor, Oracle chairman Larry Ellison, whom Musk has called a “very close friend.”

Tesla’s commanding position as the world’s most valuable automaker remains unchallenged, with competitors like Japan’s Toyota and China’s BYD trailing by hundreds of billions of dollars.

As Tesla’s largest shareholder, Musk holds a 13% stake, valued at around $130 billion, though an additional 9% stake is pending legal review in Delaware, following a dispute over stock option bonuses.