Approximately $26 billion got added in Elon Musk’s wealth as Tesla stocks perform impressively with 22% rise on Thursday.
Elon Musk, the CEO of Tesla and already the richest person in the world, added $26 billion to his wealth on paper Thursday following the largest surge in his company’s shares since 2013.

With the recent addition Elon Musk’s net worth has crossed $269 billion; which happens to be $50 billion more than his old friend Larry Ellison, Oracle’s largest stakeholder.

Elon Musk whose stake in SpaceX is valued over $200 billion, has additional 13% of outstanding Tesla shares forming most of his net worth.

He is also the controlling owner of the artificial intelligence companies xAI and X, which was once Twitter. Depending on how a shareholder lawsuit against Musk’s 2018 compensation package turns out, his wealth could increase even further.

Following Tesla’s better-than-expected earnings announcement late Wednesday and Musk’s remarks during the call indicating that “vehicle growth” would be 20% to 30% next year, the stock rose on Thursday. The closing 22% increase in Tesla shares was the company’s second-largest gain since its 2010 initial public offering.

Tesla’s stock had been falling before the earnings report, and it was on track to have its worst month since January. However, the company recovered its year-end loss and is currently up 5% in 2024, while the Nasdaq gained 23%.

Tesla exceeded the average analyst forecast of 58 cents per share with its announced earnings of 72 cents. Profit was increased by $326 million from the company’s Full Self-Driving Supervised system (FSD) and $739 million from environmental regulatory credits.