2 weeks Ago By Arun Nair
Tesla CEO Elon Musk added a staggering $26 billion to his wealth on Thursday (October 25) as the company had its second-best day ever on the stock market. Tesla shares soared 22% after it met the market expectations with impressive quarterly earnings report and an uplifting projection for 2025 growth. This latest windfall cements Musk's position as the world's richest person, with a net worth now estimated at around $269 billion.
Musk is now $50 billion ahead of good friend and former Tesla board member Larry Ellison, who remains the largest shareholder in Oracle. Musk controls close to 13% of Tesla's outstanding shares, accounting for the bulk of his net worth. After a slump, Tesla reported an impressive quarterly earnings report, which surpassed analyst expectations.
The company's solid performance, coupled with Musk's optimistic outlook for 2025, ignited a buying frenzy among investors. The company's stock prices soared 22% following the positive sentiment, helping Tesla record its second-largest one-day gain since its IPO. Prior to the quaterly announcement, Tesla shares had been on the downward curve and were headed for their worst month since January.
Elon Musk's empire Beyond Tesla, Musk also has substantial stakes in SpaceX, X (formerly Twitter), and xAI. His ambitious ventures into space exploration, social media, and artificial intelligence have significantly contributed to his $269 billion worth net worth. Musk Is Flexing His Wealth And Political Power Musk has donated at least $75 million into a pro-Trump super PAC.
Musk, through his pro-Trump group, America PAC, offers to pay people $47 if they get supporters to sign a petition, which in turn gives the outside group valuable data on potential swing voters. On Friday, the tech billionaire upped the offer even further, pledging $100 for every Pennsylvania voter. Get Latest News Live on Times Now along with Breaking News and Top Headlines from Companies, Business Economy and around the world.
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