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Elon Musk’s fortune climbs $30 billion on Tesla’s record quarter for deliveries

Elon Musk’s fortune climbs $30 billion on Tesla’s record quarter for deliveries

Tesla Inc. reported it had smashed its previous record for vehicle deliveries, spurring a rally in the electric car-maker’s shares and creating one of the biggest one-day jumps in wealth. Musk’s fortune jumped by $33.8 billion on Monday to $304.2 billion, according to the Bloomberg Billionaires Index. Jeff Bezos, second on the list, has a $196 billion fortune. Tesla’s shares rose 13.5% to $1,199.78 on Monday after fourth-quarter results handily exceeded analysts’ estimates for auto deliveries.  The company’s market valuation jumped back above $1 trillion last month after a dip in November and early December. Musk, who owns about 18% of Tesla, helped trigger the slide when he said he would reduce his stake in the company by 10%. He’s sold more than $10 billion worth of shares since November, part of a plan to generate cash to pay tax obligations. Also read | Starlink satellite’s near-collision with Chinese station puts focus on space jam Musk’s net worth, which also includes his stake in rocket manufacterer SpaceX, reached a high of $340 billion last year, surpassing the peak inflation-adjusted net worth of John D. Rockefeller and briefly making him the richest person in modern history. .

world-news 2022-01-05 hindustantimes