In just one hour: Elon Musk earned $ 2.3 billion from Tesla

UNITED STATES (OBSERVATORY NEWS) — Elon Musk’s fortune rose to $ 2.3 billion in just over an hour as Tesla’s’ shares rose more than expected.

On the New York Stock Exchange, the stock of the electric car maker, which earlier closed at $ 580.99, rose 12 percent to $ 649.

According to Bloomberg’s Billionaires Index , this increased the net worth of Tesla’s chief executive Elon Musk to about $ 34 billion.

Musk owns about a fifth of Tesla’s stock, which comprises the bulk of his wealth. However, much of its wealth has recently been strongly dedicated to space technology research, estimated at about $ 14.6 billion.

Tesla shares have had a positive trend since October, when the company generated unexpected profit in the third quarter.

Its market value now stands at more than $ 100 billion, and if it stays above that threshold for an even longer period of time, competition with Toyota, the world’s first carmaker, will be even tougher.


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