Elon Musk’s Wealth Soars to $788 Billion Amid 4% Tesla Surge
Elon Musk’s wealth has reached new heights, soaring to $788 billion amid a notable surge in Tesla’s stock. This increase comes as Tesla plans to rollout its robotaxi fleet in the U.S. by year-end.
Key Financial Highlights
On Thursday, Musk’s net worth was recorded at $788.1 billion according to Forbes’ Real-Time Billionaires List. This valuation comes after Tesla shares jumped over 4%, closing at about $449.
- Musk’s fortune increased by approximately $13 billion, marking a 1.7% rise from the previous day.
- He currently sits as the world’s richest individual, ahead of prominent figures like Larry Page and Sergey Brin.
- Page and Brin’s net worths are estimated at $270.4 billion and $249.5 billion, respectively.
Tesla’s Robotaxi Service
Musk spoke at the World Economic Forum in Davos, Switzerland, revealing that Tesla’s robotaxi service will be “very, very widespread” by the close of the year. This follows the initial launch in Austin, Texas, slated for June 2025.
Recent Performance and Competition
Tesla’s recent performance has been mixed. The company manufactured just over 434,000 vehicles last quarter and delivered approximately 418,000, reflecting a 16% decrease from the same period in the previous year. This decline allowed BYD, a Chinese electric vehicle maker, to surpass Tesla in sales, registering a 28% annual increase to 2.26 million units.
Milestones in Musk’s Wealth
Over the past year, Musk has achieved several significant wealth milestones. He became the first individual to exceed $500 billion in October, followed by reaching $600 billion in December, and surpassing $700 billion shortly after.
- SpaceX’s recent valuation of $800 billion significantly contributed to Musk’s financial ascent.
- A Delaware Supreme Court ruling reinstated Tesla stock options worth about $126 billion, further boosting his wealth.
- xAI Holdings’ $20 billion investment this month added another $62 billion to Musk’s fortune.
Looking Ahead
Musk’s net worth is anticipated to continue its upward trajectory, with analysts speculating he may soon become the first individual to reach the $1 trillion mark. This potential is largely based on a newly approved compensation package from Tesla, contingent on the company’s financial and production objectives.
As the fourth quarter earnings report approaches on January 28, the financial landscape for Musk and Tesla will be closely monitored.
