Elon Musk's Fortune Increased By $33.8 Billion In Day As Tesla Stock Surges

Tesla's stock surged on the back of a record quarter where it delivered 300,000 cars

By Sahil Gupta

1 mins read

Published on January 4, 2022

Highlights

Teslas stock surged after a quarter where it delivered 300,000 cars
Musk owns 18% of Teslas stock which resulted in a $33.8 billion gain
Musk now is worth $304.2 billion though once he was at $340 billion

Elon Musk's personal fortune is very closely tied to Tesla of which he holds a lot of stock considering he is co-founder and long-time CEO of the world's most valuable automaker. His fortune on Monday surged by $33.8 billion just in a day to $304.2 billion after Tesla's stock rallied. Tesla's shares grew by 13.5 percent and considering Musk owns 18 percent of all Tesla stock, he was bound to make huge gains to his fortune. But this is the tip of the iceberg as at one point in 2021, Musk's fortune was at $340 billion. Musk owns 18 percent of Tesla's stock which means whenever its stock rallies, his personal fortune goes up Musk's fortune also comes from his holding in SpaceX, the rocket company he founded before becoming an investor in Tesla. Tesla's stock surged 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 selling 911,208 units of the two combined. Tesla has also navigated the global semiconductor shortage better than most automakers where it rewrote its software to work on new components which the automaker had to source thanks to the chip shortage. Musk's holding Tesla has reduced slightly in the last couple of months where he has willingly sold some of his stock. He also became the highest taxpayer in the US in 2021.