Musk’s wealth Jumps $18.2b after Tesla’s strongest gain in months
Elon Musk's personal fortune increased by $18.2 billion on Thursday, as Tesla Inc. shares posted their largest daily gain in months. Tesla's stock climbed 9.8% to close at $284.95.The Bloomberg Billionaires Index estimates Musk's net worth to be around $335 billion.
Tesla's shares surged on increased investor optimism following better-than-expected quarterly results and a string of analyst upgrades. Despite the rapid comeback, Elon Musk's year-to-date fortune is still down by approximately $97.7 billion, representing a 22.6% decrease from January highs.
Similarly, Bloomberg reports that Musk's newly combined artificial intelligence firm, xAI Holdings, is in talks with investors to secure approximately $20 billion in new capital.
The investment would help xAI and Musk's social media company X, formerly known as Twitter, flourish together after he took it private in 2022.
Part of the additional cash is likely to help Musk pay off the considerable debt he incurred when acquiring Twitter. If finalized, the deal will be the second-largest startup funding round in history, after only OpenAI's $40 billion raise earlier this year, according to PitchBook.
Tesla remains the foundation of Musk's fortune, with the billionaire owning approximately 13% of the company's publicly traded stock.
He also has almost 304 million stock options from a contested 2018 compensation arrangement.
Musk also owns over 304 million stock options related to a contentious 2018 compensation scheme.
Although a Delaware court overturned the package earlier this year, a ruling that was later confirmed by a shareholder vote, the options remain included in wealth estimates until the outcome of the final appeal.
Beyond Tesla and xAI Holdings, Musk's corporate empire is vast.
He owns around 42% of Space Exploration Technologies Corp. (SpaceX), which was worth nearly $350 billion in a late-2024 tender offer.
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