Science

Elon Musk made 31 billion euros in a single day, a record

It’s an amazing day for Tesla and his boss, Elon Musk. On October 25, Hertz announced plans to purchase 100,000 Tesla for its rental fleet. A statement that started a spectacular rebound, which skyrocketed the company’s market capitalization and the net worth of its CEO.

Tesla’s stock price rose nearly 13% on Oct. 25, bringing the automaker’s market capitalization to just over $ 1 billion (€ 862 billion) for the first time. At the end of the day, Elon Musk enriched himself with $ 36.2 billion (31 billion euros), the largest increase in a day according to the Billionaires Ranking Index of the Bloomberg editorial team.

Also read: Elon Musk reveals that he does not own Shiba Inu cryptocurrency tokens

The site now estimates Elon Musk’s net worth at $ 288.6 billion. His fortune has now dwarfed Toyota’s market value of $ 282 billion (€ 247 billion). It is also worth significantly more than Tesla’s rivals such as General Motors ($ 83.9 billion) (€ 72.4 billion) and Ford ($ 62.8 billion) (€ 53.5 billion).

Elon Musk owns about 20% of the Tesla company, and this stake is the main driver of his wealth, which also finances projects such as Boring Company and SpaceX. The eccentric CEO receives large amounts of stock options as part of a complex compensation package, paid off when Tesla reaches certain financial milestones. The South African earned $ 8 billion (6.9 billion euros) after Tesla announced that it had launched a new batch of shares, according to the Bloomberg site.

Elon Musk surpassed Amazon founder Jeff Bezos to become the world’s richest person in January. They have changed places several times since then. Today, the head of SpaceX cemented an advance of almost 100 billion dollars (86 billion euros) on the former CEO of Amazon, whose fortune was “only” 192.6 billion dollars. Dollars (166 billion euros) at the close of the market, according to Bloomberg. .

Original version: Tim Levin / Insider

Also read – Tesla joins the very closed club of companies that are worth more than $ 1 billion in the stock market

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