Following the recent surge in Tesla stock prices Elon Musk strengthened his position at the top of the list of the world’s richest people, according to the Bloomberg Billionaires Index.
Tesla shares ended Thursday’s session up 22%. growth, after the electric car maker reported its biggest quarterly profit since summer 2023.
Musk’s gain was the third-largest in his history and increased his fortune to $270.3 billion. The fortune of Jeff Bezos, the second richest person in the world, is $61 billion less.
Musk’s paper profits
Tesla stock and options make up about three-quarters of Musk’s wealth. He controls nearly 13 percent. Tesla shares. In addition, he still owns large shares in SpaceXwhich are valued at over USD 200 billion on private markets. Musk is there too majority owner of social media platform X and the company dealing with xAI artificial intelligence.
Musk’s ambitions are even greater. His forecast for next year predicts even 30%. increase in sales of electric vehicles. He also announced that Tesla’s angular pickup truck, Cybertruck generated a quarterly profit for the first time.
The growth recorded in the third quarter of this year followed four consecutive quarters of disappointing profits for the world’s largest electric vehicle maker, which, like the industry at large, was struggling with slowing consumer demand.