Here's your Forbes Daily Briefing for Friday, November 8th.

Today on Forbes, Elon Musk's risky gamble on Trump pays off.

Elon Musk's reputation and wealth derived from his willingness to make risky bets decades ago

with SpaceX and Tesla.

None seemed riskier than his high-profile big dollar bet on Donald Trump

to win the presidency. And like those earlier gambols, this one is likely to pay off by making

him the most influential executive in the new administration, and even richer.

Already the world's wealthiest person, as of Wednesday, Musk's net worth grew by

$21 billion to $285.6 billion as Tesla shares surged 15% following news of Trump's victory.

The stock closed at just over $288, its highest in over a year. SpaceX, his rocket company that's become

essential for NASA and Defense Department launches, is likely to become an even bigger beneficiary

of federal contracts from a Trump government, which would further boost Musk's wealth.

The implications of his support go beyond any short-term financial gains from his Tesla shares.

Trump has said he wants him to serve as a government efficiency advisor in his new administration,

that, at a minimum, suggests there will be a much lighter touch on rules and regulations on big

companies, particularly those he favors.

In his victory speech on Wednesday, Trump said of Musk, quote,

He's a special guy. He's a super genius. We have to protect our geniuses.

We don't have that many of them. We have to protect our super geniuses.

While Musk's relations with Biden have been frosty, with perceived snubs early on in which Musk

wasn't included in White

House events focused on electric vehicle manufacturers, things are poised to be dramatically

...