Elon Musk's wealth is a topic of endless discussion for everyone since he is the richest person in the world. His ever-increasing net worth is in the news almost every day, and given his social media presence, he is often discussed by others on Twitter etc.
His earnings are closely tied to Tesla of which he holds a lot of stock given the fact that he is the co-founder and long-time CEO of the electric car company that has become the world's most valuable automaker. On Monday, the billionaire's fortune surged by?$33.8 billion just in a day to $304.2 billion after Tesla's stock rallied.?
Tesla's shares grew by 13.5 percent.?Since Musk owns 18 percent of all Tesla stock, he benefitted largely from the surge. In fact, at one point in time in 2021, Musk's fortune was at $340 billion.
Other than Tesla, Musk's earnings also come from his holding in SpaceX - the rocket company he founded before becoming an investor in Tesla.?
Tesla's stock surged thanks to the company delivering 300,000 cars - with the Model 3 and Model Y proving to be the most popular EVs in the US selling 911,208 units of the two combined.? ?
According to a report by Car and Bike, Tesla has also navigated the global semiconductor shortage better than most automakers where it rewrote its software to work on new components which the automaker had to source thanks to the chip shortage. Musk's holding in Tesla has slightly decreased in the last couple of months where he has willingly sold some of his stocks. He was also the highest taxpayer in the US in 2021.
Back in November 2021,?Tesla and SpaceX CEO had lost $50 billion after Tesla Inc. shares plunged for the second day in a row. According to a report by Bloomberg, it was the biggest two-day decline in the history of the Bloomberg Billionaires Index, and the biggest one-day fall after Jeff Bezos's $36 billion plunges following his divorce from MacKenzie Scott in 2019.
Musk surpassed the Amazon.com Inc. founder for the title for the first time in January and the difference between the two was recently as wide as $143 billion, a figure greater than the net worth of Bill Gates, the world's fourth-richest person.
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