Hedge funds betting on Elon Musk’s Tesla have lost billions of dollars following Donald Trump’s victory in the White House last week, according to a report.

Investment firms that shorted the electric car maker’s stock between Election Day and Friday’s close suffered a hit of at least $5.2 billion on paper, according to Bloomberg calculations based on data collected by S3 Partners.

According to the Bloomberg report, many funds have undone their bets against Tesla over the past four months, despite challenges facing electric vehicle makers such as tariffs, low consumer demand and an increasingly competitive industry.

The majority of hedge funds shorting Tesla began unwinding their positions after Musk endorsed Trump on July 13, immediately after the former president’s first assassination attempt, according to Hazeltree data tracking more than 500 hedge funds obtained by Bloomberg.

Since Election Day, shares in Musk’s Tesla have risen about 40% — or more than $200 billion in additional market value.

Tesla’s valuation surpassed $1 trillion on Friday, prompting hedge funds to rush to unwind short bets on the company.

Only 7% of hedge funds were net short Tesla the day after the election — a far cry from the 17% who shorted the stock in early July, according to Hazeltree data obtained by Bloomberg. Only 8% of hedge funds have a net long position in Tesla.

While Tesla shares are up 39.2% so far this year, the broader EV sector has lost more than 12% this year after falling 9% in 2023, according to KraneShares Electric Vehicles and Future Mobility performance Index ETF as reported by Bloomberg.

Tesla shares have also outpaced other clean energy stocks, which were fueled by Trump’s victory.

Musk — the richest person in the world with a net worth of $304 billion, according to Forbes — emerged as perhaps the most prominent Trump ally during the president-elect’s campaign.

He donated more than $100 million to a pro-Trump PAC, rallied on Trump’s behalf and convinced Americans to vote early with a $1 million-a-day lottery.

Tesla’s post-election success is due to the close relationship between Trump and Musk – the two were pictured together awaiting the election results at the president-elect’s Mar-a-Lago residence – despite expectations that Trump would be an anti -will implement an EV policy.

“Trump’s victory is very negative for Tesla as a car company,” said Per Lekander, CEO of hedge fund manager Clean Energy Transition. In about 12 to 18 months, the Trump administration will “eliminate a large portion of the subsidies that actually helped Tesla win.”

The president-elect has committed to a pitch from Musk to create a government efficiency commission — and let the billionaire take the helm.

Last month, Musk said he would use a government position to remove regulatory barriers to the adoption of fully autonomous electric vehicles — one of the key challenges facing his company.

Musk has already scored a major victory in Trump’s impending return to the White House. His net worth rose above $300 billion on Friday following Tesla’s stock surge.

Tesla short sellers have been bashed in the past, losing nearly $1.5 billion after Tesla reported a surprise profit in 2019, according to The Post’s reporting.