Today's Edition
(Bloomberg)
Elon Musk added $33.5 billion to his net worth Thursday as Tesla Inc. shares posted their biggest gain in over a decade, extending the world’s richest man’s lead atop the Bloomberg Billionaires Index.
Shares ended the day up 22% and turned positive for the year after the automaker reported its largest quarterly profit since the summer of 2023. Musk forecasted as much as 30% growth in vehicle sales next year on a webcast following the release and announced that Cybertruck had generated a quarterly profit for the first time.
The pop came after four straight quarters of disappointing earnings for the world’s largest electric vehicle manufacturer, which has struggled amid slowing consumer demand.
Musk’s wealth gain was his third-largest ever and brought his fortune to $270.3 billion, $61 billion ahead of second-place Jeff Bezos. Tesla shares and options account for about three-quarters of his fortune, which also includes large stakes in SpaceX, social-media platform X and artificial intelligence firm xAI.
