Tesla Stock Surge Adds $30 Billion to Elon Musk's Fortune Overnight

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Elon Musk's net worth surged by over $30 billion on Thursday after Tesla shares jumped following the release of its third-quarter earnings.

Tesla’s stock climbed 22% that day, boosting its market value by about $150 billion as investors reacted positively to the company’s higher-than-expected gross margins, plans to introduce a lower-cost vehicle in 2025, and Musk’s projection of up to 30% growth in vehicle deliveries next year.

This significant rise brings Musk's total net worth to just over $270 billion, according to Bloomberg data, reinforcing his position as the world's wealthiest individual, well ahead of other top billionaires like Jeff Bezos and Larry Ellison.

Musk’s fortune mainly comes from his 13% ownership in Tesla and approximately 304 million stock options from his 2018 compensation package, which together are worth around $123 billion, according to Bloomberg.

His next largest asset is his 42% stake in SpaceX, valued at just over $80 billion. Additionally, his stakes in X, The Boring Company, Neuralink, and xAI collectively add up to an estimated $24 billion, per Bloomberg's calculations.

 

 

 

 

 

 

 

 

 

 

 

 

 

Paraphrasing text from "Business Insider" all rights reserved by the original author.