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.
This article is written and prepared by our foreign editors writing for OBSERVATORY NEWS from different countries around the world – material edited and published by OBSERVATORY staff in our newsroom.
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