Elon Musk's Wealth Rises $26 Billion to $270 Billion as Tesla Stock Soars 22%, Adding $150 Billion Market Cap

Oct 24, 2024, 10:18 PM

Elon Musk's wealth surged significantly on October 24, 2024, following a remarkable performance by Tesla Inc. shares, which experienced their largest daily gain since 2011. The stock soared approximately 22%, adding nearly $150 billion to Tesla's market capitalization. As a result, Musk's net worth increased by $26 billion, bringing it to $270 billion, which solidifies his position as the world's richest person with a $58 billion lead over the second richest individual. This surge in Tesla's stock price was attributed to the company's strong quarterly profit report, marking its largest profit since summer 2023. Various reports indicated that Musk's net worth increase ranged from $26 billion to $34 billion, reflecting the volatility and rapid changes in stock valuations.