Elon Musk’s net worth could increase by approximately $15 billion as Tesla’s stock surged after Donald Trump’s recent election victory.

In pre-market trading, Tesla shares rose nearly 15% to $289.44, boosting the company’s market value by around $113 billion. If this price holds by the day’s close, Musk, who owns a 12.8% stake in Tesla, is projected to see his wealth grow by roughly $15 billion, according to The Telegraph.

The stock surge followed Trump’s praise for Musk during his victory speech, where he lauded the billionaire as a “genius.”

“We have a new star, a star is born: Elon,” Trump said, commending Musk’s work with SpaceX and Starlink, especially Starlink’s deployment during Hurricane Helene.

“He’s an amazing guy,” Trump added. “He’s a character, a special guy, a super genius.”