Tesla stock soared on the back of a record quarter where it delivered 300,000 cars
see photosMusk has been in charge of Tesla for more than a decade
Elon Musk’s personal fortune is closely tied to that of Tesla, which owns a lot of stock considering he is the co-founder and longtime CEO of the world’s most valuable automaker. His fortune soared $33.8 billion in a single day to $304.2 billion on Monday after Tesla stock surged. Tesla shares rose 13.5 percent, and considering Musk owns 18 percent of all Tesla shares, he was bound to make huge gains for his fortune. But this is just the tip of the iceberg because at one point in 2021, Musk’s fortune stood at $340 billion.
Musk owns 18 percent of Tesla’s stock, which means his personal fortune rises whenever its stock goes up.
Musk’s fortune also comes from his stake in SpaceX, the rocket company he founded before becoming an investor in Tesla. Tesla’s stock soared on the back of a record quarter, where it delivered 300,000 cars – with the Model 3 and Model Y proving to be the most popular EVs in the US, both of which sold 911,208 units.
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Tesla has better navigated the global semiconductor shortage than most automakers, where it has rewritten its software to work on new components, which the automaker had to thank for chip shortages. Musk’s holding of Tesla has come down slightly in the past few months where he has voluntarily sold some of his stock. He also became the highest taxpayer in the US in 2021.
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