Elon Musk Gains $25 Billion In A Day, His Wealth Valuation Hits $174 Billion
-Elon Musk’s wealth valuation has risen by $25.1 billion after Tesla shares surged by 20%
-The surge has been driven by investors’ belief that the electric car industry is set to grow
-Musk remains the second richest man in the world, with a valuation of $174 million
Tesla CEO, Elon Musk has seen his wealth valuation increase by $25billion in a day after a surge in the company’s shares.
Tesla shares increased by 20% amid reports that the electric car industry could be worth $5 trillion in 5 years.
Five straight days of selling had seen Tesla shares and Musk’s wealth come crashing down. The report has driven a turnaround in fortunes for the electric car company.
The 49-year-old businessman has a net worth of $174 billion, comprising mostly his 20% stake in Tesla.
The electric car company is currently worth $646.5 billion after its share price closed at $673.
Read also: Nigerian Payment Company Flutterwave Raises $170 Million, Now Valued At Over $1 Billion
Apart from his stakes in Tesla, Elon Musk is also the owner of Space exploration company, SpaceX which is heavily backed by NASA.
Elon Musk is currently the second richest man in the world, only behind Amazon CEO, Jeff Bezos.
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