Trump also singled-out Mr Musk in his victory speech, spending several minutes praising his rocket firm, Space X. Mr Musk's association with the president-elect also boosted the share price of his electric car maker Tesla - and, with it, his net worth, which now stands at an estimated $290bn.

The world’s richest man gave his money and time in campaigning for the president-elect and now is putting in his requests for a friendlier regulatory environment.

“The people of America gave @realDonaldTrump a crystal clear mandate for change tonight,” Elon Musk posted ... billions of dollars in government contracts, but has also clashed with regulators. Trump said he would make Musk the head of a new ...