Tesla CEO Elon Musk started the new year in a great way. According to reports, Musk’s wealth increased by $33.8 billion in a recent day. Musk, the most philanthropic billionaire, is also in the running to become the richest person in 2022. As Elon Musk became the world’s richest man last year, he’s trying to maintain that position while beating his rival by a greater margin.
Musk, the world’s richest man, had a similar start last year when Hertz Global Holdings placed Tesla in an order for 100,000 electric vehicles, adding $36 billion to his wealth. It was the biggest single-day gain in the history of the Bloomberg Billionaires Index.
The jump in Musk’s wealth came as Tesla announced it had broken its previous record for electric vehicle deliveries. This caused the auto maker’s stock to rise by a huge margin, making Musk’s biggest one-day jump in wealth.
Tesla Inc. reported record quarterly deliveries on Sunday, far exceeding Wall Street estimates. China’s production has increased due to chip shortage.
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This was the sixth consecutive quarter that the world’s most valuable auto maker posted record deliveries. Tesla shares rose 10 per cent to a one-month high in early trading on Monday. By the end of the day, Tesla shares rose to 13.5 percent, according to the report. The stock was trading at $1,199.78 that day.
Tesla, led by billionaire CEO Elon Musk, delivered 308,600 vehicles in the fourth quarter, far higher than analysts’ forecast of 263,026 vehicles.
Tesla’s October-December deliveries were up about 70 percent from a year ago and up about 30 percent from the previous quarter’s record deliveries.
The jump in Tesla shares on Monday also affected the net worth of its owner, celebrity CEO Elon Musk. Musk’s net worth rose by $35.8 billion on Monday to $304.2 billion, according to the Bloomberg Billionaires Index. This is more than the net worth of Jeff Bezos, the second richest person in the world.
Tesla shares tumbled last November and early December after hitting a record $1 trillion market cap. The drop came from Musk’s move to sell his shares, when he announced that he would reduce his stake in the company to 10 percent.
At present, the Tesla CEO holds an 18 percent stake in the company. On December 3 last year, Elon Musk sold 934,091 shares of the electric vehicle manufacturing company.
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