Elon Musk, CEO of Tesla, became worth more than $26 billion on Thursday after impressive quarterly results caused shares of the electric car company to soar.
Forbes’ real-time wealth tracker showed that Musk’s wealth had also grown on Friday. It had grown by $4.3 billion since the end of trade on Thursday. As of Friday morning, his net worth was about $274.1 billion.
When Tesla’s quarterly numbers came out on Wednesday, its stock price went through the roof. It said that its third-quarter sales were up 7.8% year-over-year and its net income was up 16.9%. The gross profit for this item was 19.8%.
TESLA OF ELON MUSK HAS A LOT OF ETFS
The company that makes electric cars said in its quarterly report to shareholders that it “expects to achieve slight growth in vehicle deliveries in 2024,” even though “ongoing macroeconomic conditions.
” According to the report, affordable Tesla cars would be delivered “still on-track” in the first half of 2025.
Musk told analysts and investors that Tesla was “profitable despite a very challenging automotive environment.
” He also said that he was still optimistic about the company’s efforts to make self-driving cars, such as the Cybercab that was just released.
Forbes says that with his current net worth, he easily stays the richest person in the world. Elon Musk starts a daily million-dollar giveaway for people who sign a pro-Trump petition.
The real-time ranking by the news source put Larry Ellison in second place with a net worth of $213.9 billion and Jeff Bezos in third place with a net worth of $206.9 billion.
A study from Informa Connect Academy in September said that Musk might become the world’s first trillionaire in the next two years. It also said that Tesla’s market value might reach $1 trillion by 2025.
