Elon Musk made $25 billion Tuesday
March 10, 2021. Summarized by summa-bot.
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SpaceX owner and Tesla CEO Elon Musk arrives on the red carpet for the Axel Springer Awards ceremony, in Berlin, on December 1, 2020. (Photo by HANNIBAL HANSCHKE / POOL / AFP) (Photo by HANNIBAL HANSCHKE/POOL/AFP via Getty Images)
Elon Musk lost tens of billions of dollars last week. He made nearly all of that back in a single day, Tuesday, following a 20% rally in Tesla's stock.
New York (CNN Business)Elon Musk lost tens of billions of dollars last week.
He made nearly all of that back in a single day, Tuesday, following a 20% rally in Tesla's stock.
Musk added $25 billion to his net worth yesterday, bringing his total fortune to $174 billion according to Bloomberg Billionaires Index.
It's a stark reversal from last week, when he lost $27 billion following a broader sell off of tech stocks.
His net worth remained largely unchanged Wednesday with Tesla's stock only slightly lower.
Musk owns nearly 18% of Tesla's shares.
Musk and Amazon (AMZN) CEO Jeff Bezos have been swapping places atop Bloomberg's list of richest people in the world since January.
Musk is still in second place, but only $6 billion behind Bezos.
His net worth is $180 billion, with the Amazon honcho adding nearly $6 billion Tuesday.
He's worth $137 billion.
Tesla's stock gained 743% in 2020, propelling it to No. 5 on the list of most valuable companies on the stock market.
Even if Tesla's stock continues to sink, Musk still stands to become much richer in 2021 and beyond.
Each of those was worth $4. 5 billion at Friday's closing price, after taking into account the $70 per share excerise price Musk will have to pay.
Musk has not exercised any of his options.
Musk has never sold Tesla shares.