Elon Musk has witnessed an eventful past three days as his wealth leapt from $175 billion (as of last week Saturday) to $194 billion this morning.
The eccentric businessman has now closed the gap between himself and Jeff Bezos to just about $4bn according to Bloomberg Billionaires Index.
Nairametrics is quickly going to highlight the reasons for the recent massive surge of dollars for Elon Musk.
Tesla share price increase
According to Market Watch, Tesla stocks ended yesterday at their highest value in 8 weeks. The electric car company stock price increased by 8.6% and sold at $762.32.
According to Motley Fool, the reason for this increase is a generally upbeat mood in the market about growth stocks. It also believed the increase was driven by optimistic comments about Tesla stocks by trusted analysts.
A surge in Tesla car sales
According to Nairametrics finance department, Tesla delivery of new cars in the last 3 months of the year exceeded Wall Street expectations. Tesla delivered 184,800 new cars from January to March. This number exceeded Wall Street expectations pegged at 177,000 cars.
What you should know
- Jeff Bezos only gained $1bn in the last 3 days, the same duration of days Elon Musk gained $19bn according to the Bloomberg Billionaire’s index.
- Tesla is currently being portrayed and compared to Apple. The EV carmakers are modelling their vehicles and branding them to fit the “Apple of electric cars” persona. This was made public by Canaccord Genuity analyst Jed Dorsheimer. This also played a role in the surge of stock prices.
- Tesla is currently the most valuable car company in the world with a market capitalization of $593.8 billion according to Yahoo Finance.