Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Wealth & Lifestyle Billionaire Watch

World’s richest billionaire, Elon Musk now worth $243 billion as Tesla hits 8-week winning streak

Olumide AdesinabyOlumide Adesina
1 year ago
in Billionaire Watch, Spotlight
Elon Musk’s Starlink on track to deliver internet service to the world in August

HAWTHORNE-CA-MAY 29: SpaceX CEO Elon Musk unveils the company's new manned spacecraft, The Dragon V2, designed to carry astronauts into space during a news conference on May 29, 2014, in Hawthorne, California. The private spaceflight company has been flying unmanned capsules to the Space Station delivering cargo for the past two years. The Dragon V2 manned spacecraft will ferry up to seven astronauts to low-Earth orbit. (Photo by Kevork Djansezian/Getty Images)

Share on FacebookShare on TwitterShare on Linkedin

Despite tapering concerns at the world’s most powerful economy, Elon Musk appears unstoppable as he approaches the $245 billion mark for the world’s richest man.

Bloomberg Billionaires Index data indicates that Musk is now worth $243 billion, surpassing Jeff Bezos’ fortune of $199 billion.

Tesla and SpaceX CEO’s net worth has grown by $73 billion this year alone, thanks to Tesla’s stellar performance and a recent stock sale at SpaceX that pushed the company’s valuation above $100 billion.

It’s the fastest rise to the top of the rich list in modern history, and Musk has made a dramatic turnaround from a debt-ridden business less than two years ago after Tesla burned through cash to stay afloat.

His current holdings are equivalent to 138 million troy ounces of gold and 2.88 billion barrels of crude oil.

Tesla stock rose as much as 4% to $875 in New York on Monday before closing at $870, up nearly 55% from a March 8 low of $563. Since before the Covid-19 pandemic roiled markets, it had been on an eight-week winning streak.

By pushing ahead of Berkshire Hathaway Inc., it has become the sixth-largest publicly listed company in the U.S.

In recent months, Tesla shares have been steadily rising thanks to its strong quarterly results, which showed the company handled the semiconductor shortage better than traditional carmakers. Quarterly deliveries topped predictions.

On October 20, Tesla will release its third-quarter earnings. Analysts revised its earnings estimates upward in the last month, one of the very few global auto stocks to have done so. Most of the other automakers saw their estimates cut due to the chip shortage.

Although legacy automakers around the world are pushing hard for electric vehicles, and a number of new players have emerged, Tesla continues to dominate the market by producing some of the best-selling EVs, including the Model 3 and Model Y.

Related

Tags: Elon MuskSpaceXTesla

Comments 1

  1. Newgistsng says:
    October 20, 2021 at 8:59 am

    It’s so obvious

    Reply

Leave a Reply Cancel reply

HFM
Mega Millions
Mega Millions
Patricia





NM newsletters

Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

Recent News

  • Naira, fuel scarcity: Lagos announces 50% transport fare reduction on BRT buses, LAGRIDE, others, sets up Food bank 
  • Girl Child: Nurturing Our Women, Nigeria’s Own Wealth
  • Nigeria investing heavily in food, packaging and plastics technology

Follow us on social media:

Recent News

Naira, fuel scarcity: Lagos announces 50% transport fare reduction for BRT, LAGRIDE, others, sets up Food bank

Naira, fuel scarcity: Lagos announces 50% transport fare reduction on BRT buses, LAGRIDE, others, sets up Food bank 

February 8, 2023
GIrl child

Girl Child: Nurturing Our Women, Nigeria’s Own Wealth

February 8, 2023
  • Home
  • Exclusives
  • Markets
  • Industries
  • Economy
  • Business News
  • Financial Literacy
  • Lifestyle
  • Opinions

© 2023 Nairametrics

No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds

© 2023 Nairametrics