- On April 25, Elon Musk’s net worth increased by $18.2 billion.
- The rise in wealth was due to a nearly 10% surge in Tesla Inc.’s stock.
- This marked Tesla’s strongest daily gain in several months.
On Thursday, April 25, Elon Musk saw a significant boost to his fortune, with his net worth rising by $18.2 billion, following a major rally in Tesla Inc.’s stock. The company’s shares surged nearly 10%, marking their strongest daily gain in several months.
As per the Bloomberg Billionaires Index, Musk’s current net worth is estimated at $335 billion.
Tesla’s stock finished the day at $284.95, climbing 9.8% after the company reported quarterly earnings that exceeded expectations, coupled with a wave of analyst upgrades, which sparked renewed optimism among investors. Despite this impressive rebound, Musk’s wealth is still down by approximately $97.7 billion year-to-date, reflecting a 22.6% drop from the highs seen earlier this year.
In addition, Musk’s artificial intelligence company, xAI Holdings, is reportedly aiming to raise around $20 billion in new capital. Bloomberg reports that these funds will support both xAI’s growth and Musk’s social media platform, X (formerly Twitter), which he privatized in 2022. A portion of the funds is also expected to address the considerable debt incurred during Twitter’s acquisition.
If the funding round is successful, it would become the second-largest startup funding ever, only behind OpenAI’s $40 billion raise earlier this year, according to PitchBook data.
Tesla continues to be the cornerstone of Musk’s massive wealth. He holds approximately 13% of Tesla’s publicly traded shares and owns about 304 million stock options from a 2018 compensation deal. While a Delaware court recently ruled to annul this pay package—affirmed after a shareholder vote—the stock options are still included in Musk’s wealth estimates, pending the outcome of an ongoing appeal.
Musk’s financial rebound comes at a critical juncture as he manages leadership roles at Tesla, SpaceX, X, and xAI, all while navigating various legal and financial hurdles.
