Elon Musk earns $1.41 billion per hour as Tesla shares rose by 13.5% on Monday
Tuesday, January 4, 2022 | Chimniii Desk
Key Highlights
- Elon Musk is on a mission to become the world's wealthiest person by the year 2021.
- Such has been Tesla CEO's meteoric rise that his personal fortune increased by as much as $33.8 billion on just Monday, a day when Tesla shares surged considerably.
- According to the Bloomberg Billionaires Index, Musk's fortune currently stands at $304.2 billion.
- The primary driver is Tesla stock, which rose 13.5 percent to $1,199.78 on Monday.
- While $304.2 billion is an astounding sum, Musk's fortune peaked at $340 billion in 2021.While Musk also owns a stake in SpaceX, it is widely considered that Tesla is Musk's cash cow.
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Elon Musk is on a mission to become the world's wealthiest person by the year 2021. And, aided by the rapid expansion of Tesla's dominance in the realm of electric transportation, Musk is actively consolidating his place at the top of the world's wealthiest list as well. Such has been Tesla CEO's meteoric rise that his personal fortune increased by as much as $33.8 billion on just Monday, a day when Tesla shares surged considerably.
According to the Bloomberg Billionaires Index, Musk's fortune currently stands at $304.2 billion. Not only did he overcome Amazon CEO Jeff Bezos last year, but he is currently establishing a sizable lead over him. Bezos is presently worth $196 billion.
The primary driver is Tesla stock, which rose 13.5 percent to $1,199.78 on Monday. Musk holds approximately 18% of all Tesla shares and has already demonstrated his commitment to decreasing his position by approximately 10%. And, while share prices fell by approximately $10 billion, the EV maker's valuation had already returned to over $1 trillion last month.
While $304.2 billion is an astounding sum, Musk's fortune peaked at $340 billion in 2021.
While Musk also owns a stake in SpaceX, it is widely considered that Tesla is Musk's cash cow. In 2021, the EV manufacturer quadrupled its global deliveries to over one million cars. Only in the final quarter of the year did the corporation deliver 300,000 units. According to reports, the Tesla Model 3 and Model Y were the company's most popular EVs, with 911,208 units sold in total.
And, while the pandemic and chip scarcity have dogged the global automobile sector as a whole, Tesla has successfully navigated its way through rough waters and is now eyeing additional growth in the new year.
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