These companies, which previously distanced themselves from the X platform over concerns about content moderation, are now cautiously resuming their ad campaigns.

The Guardian newspaper declared its exit from X, citing concerns over Musk’s influence during the US election; in a statement, The Guardian described X as a "toxic" platform.

Adding a government portfolio to Musk’s plate could benefit the market value of his companies and favoured businesses such as artificial intelligence and cryptocurrency.

The Bloomberg Billionaire Index showed Mr Musk’s net worth jumped immediately on Wednesday after the electoral victory of the Republican candidate.

The satellite, named after Nila (Bharathapuzha) in Kerala and the Technopark building where HEX20 is located, will be part of the Transporter-13 mission scheduled for February 2025

Musk, 53, is now worth $270 billion, thanks to a 22% gain in Tesla shares, which jumped after Tesla released its third-quarter earnings.

India will now allocate satellite spectrum administratively, not through auction, after Musk criticised Ambani’s auction push.

Apart from the drastic slip in valuation, a report from analytics company Kantar revealed that 26% of marketing firms plan to reduce their advertising spending on X next year.

“You can’t just convert a non-profit into a for-profit. That is illegal,” Mr Musk posted on X.

Zuckerberg is now the world’s third-richest person with a whopping fortune of Rs. 16.60 lakh crore; Elon Musk and Jeff Bezos are ahead of him.