Investors believe that the electric car company led by Elon Musk will benefit from his support of the president-elect.

Shares of Tesla surged by 12% Wednesday morning, sending the company’s stock up while adding nearly $20 billion to Elon Musk’s fortune after Donald Trump was reelected as president, and lavished praise on the world’s wealthiest person.

U.S. stock index futures rose on Monday, adding to post-election gains, while investors looked ahead to the next batch of economic data that could decide whether the equity rally can sustain itself. Stocks that rose following the U.