Billionaire Elon Musk earned 26 billion USD in just one day

CNBC reported that billionaire Elon Musk's huge fortune increased by $26 billion on October 24 when the stock price of electric car company Tesla increased sharply.

Billionaire Elon Musk at a campaign event for former President Donald Trump in Pennsylvania on October 18.

According to Forbes , the net worth of Elon Musk, CEO of Tesla and currently the richest person in the world , is currently about 269 billion USD, 57 billion USD more than the second-ranked person, Mr. Larry Ellison, the largest shareholder of technology company Oracle. Mr. Ellison is a close friend of Mr. Musk and a former member of Tesla's board of directors.

According to CNBC, billionaire Elon Musk owns nearly 13% of Tesla's outstanding shares, making up the majority of his net worth. In addition, he also owns a large stake in the space company SpaceX and is the owner of the social network X (formerly known as Twitter) and the artificial intelligence startup xAI.

Mr. Musk's fortune could be even higher, depending on the outcome of a lawsuit by Tesla shareholders related to the billionaire's 2018 compensation package.

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Tesla's price increase on October 24 came a day after the company reported better-than-expected earnings and Musk predicted sales growth of 20-30% in 2025. Musk pledged to launch a low-cost car in the first half of 2025 and said efforts to cut production costs would boost profit margins in the third quarter, according to Reuters.

Tesla shares rose 22% on October 24, the second-strongest day since the company went public in 2010.

Tesla shares fell before the earnings report, heading for their worst month of the year. After the report, things reversed and the stock is up 5% year to date.

Source: https://thanhnien.vn/ti-phu-elon-musk-kiem-26-ti-usd-chi-trong-mot-ngay-185241025161051757.htm