Elon Musk Net Worth Update: In 4, there has been a significant surge in Elon Musk's wealth, marked by an impressive 81.31% increase on Thursday, October 24, 2024Elon Musk Net Worth: A remarkable spike in Elon Musk's net worth occurred in just one day. Discover the reasons behind this substantial rise in assets.
Elon Musk Net Worth
On this day, the world's richest billionaire, Elon Musk, saw a staggering increase of $33.5 billion in his net worth, bringing it to a total of $270 billion. This sharp rise is attributed to the strong performance of Tesla, Musk's electric vehicle manufacturing company, which resulted in a significant surge in its stock prices.
According to the Bloomberg Billionaires Index, Musk's net worth increased by $33.5 billion in one day, climbing to $270 billion. In 2024 alone, his wealth has risen by $41.1 billion, with the remarkable 81.31% increase occurring solely on Thursday, October 24, 2024. Overall, Musk's net worth has seen a 15% rise in just one day. He holds a 13% stake in Tesla, and this is the first time since May 2013 that the company's stock has experienced such a substantial jump. Tesla launched its IPO in 2010.
The most recent quarter marked the highest growth in Tesla's profits since 2023. Musk projects a 30% increase in vehicle sales for 2025, noting that the Cybertruck generated its first profit for the company in this quarter. As a result, Tesla's stock rose by 22%, contributing to Musk's net worth increase of $33.5 billion in just one day. Musk expressed optimism that Tesla will roll out the Cybercab and Robotix by 2026, with a manufacturing target of 2 to 4 million units.
Elon Musk currently ranks first on the Bloomberg Billionaires Index, while Jeff Bezos of Amazon holds the second position with a net worth of $209 billion, leaving a gap of $61 billion between the two.
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