The world’s richest person, Elon Musk, saw his net worth soar by over $16 billion on Wednesday after Donald Trump secured victory. His net worth is now estimated at $290 billion. Musk personally spent about $120 million helping Trump get elected and used his social media site X, formerly Twitter, to promote Trump’s campaign. On Tuesday, Musk wrote, “Men are voting in record numbers. They now realize everything is at stake.” Musk was echoing Republican talking points aimed at countering Kamala Harris’s support among women and voter dissatisfaction with abortion bans. Trump vowed to install Musk as head of a new government efficiency commission. Musk has proposed cuts of “at least” $2 trillion to federal spending.

Meanwhile, CNN and Politico are reporting Trump has tapped Brian Hook, a top State Department official during the first Trump administration, to begin staffing the State Department. Hook served as special envoy for Iran under Trump, leading the “maximum pressure” campaign of sanctions, sabotage and assassinations against Tehran.