20:14
+22 C°
Traffic jam:   6
$
74.1373
89.5060

Trading on the stock exchange brought in $25bn to Elon Musk in 24 hours

10 March 2021
2288
1 min.
6
Trading on the stock exchange brought in $25bn to Elon Musk in 24 hours

Elon Musk's fortune

Earlier, the entrepreneur's fortune in terms of his ownership stake in Tesla had fallen by $27bn.

Shares in the Tesla company owned by Elon Musk continue to rise significantly in trading on Wednesday, boosting the entrepreneur's fortune by $25 billion, according to a Bloomberg ranking of the world's richest people.

Tesla shares have been declining since last week. The drop was particularly sharp on Monday, when the securities fell by 5.84%. The company's capitalization fell to $540.4 billion, down more than a third from the high of nearly $850 billion reached in early January. Musk's fortune in terms of his ownership stake in Tesla fell by $27 billion.

But in less than two hours of trading on Tuesday, the share price rose almost 15%, from $563 a share to $645. Capitalisation reached $608.5bn, almost $70bn higher than at Monday's close. On Tuesday, the entrepreneur increased his capital by more than $12 billion. The upward trend has continued. Musk's fortune thus rose again on Wednesday this time by $25.1 billion, just $6 billion behind the richest man in the world Amazon founder Jeff Bezos.

Attempts to calculate wealth levels based on changes in campaign capitalisation are highly relative. Musk has never sold Tesla shares. The loss of even a third of the company's capitalisation since the start of January is insignificant compared to its rapid growth in 2020, during which the company's share price rose by more than 700%. Musk is also a major shareholder in SpaceX, a space launch company.

Persons2 and Companies4 in the news

CEO of Tesla
1 place
Industrialist, media proprietor, and investor
2 place
Tesla
2 place
Amazon
3 place
Bloomberg L.P.
4 place
Section:

Discussion

Rating companies
Tesla
56 Mention
Apple
55 Mention
Amazon
52 Mention
Nasdaq
51 Mention
Dow Jones
43 Mention
Facebook
43 Mention
Microsoft
31 Mention

NEW YORK NEWS

News from GlobalNY.biz is the freshest and most relevant information about high-profile events in the region. The task of the resource's news feed is to convey to readers with maximum accuracy and objectivity information about important events in business, politics, economy, healthcare, culture and other spheres of life in New York.
GlobalNY.biz news is a coverage of economic processes taking place in New York, the latest news of public life, incidents and an overview of political events. New York news is information about the activities of small and medium-sized businesses, the work of housing and communal services and utilities, the implementation of significant projects.
The site's journalists describe not only the life of the region, but also talk about the current state of the US economy. Everything you need to know about innovations in the field of industry and agriculture, economy and power is collected in the "News" section at GlobalNY.biz.
New York news quickly informs the reader, shows the real picture and opens up hot topics. Communication with government structures and business enables us to provide our readers with reliable, information-rich material. The main page of the portal contains the key news of New York!
Alena Potapova

Development Director