Elon Musk made $36 billion in a single day on Tesla's historic stock surge

Dow Jones2021-10-26

MW Elon Musk made $36 billion in a single day on Tesla's historic stock surge

By Barbara Kollmeyer

Tesla boss's wealth beats GDP of several countries and lots of companies

Thanks to a rental-car company that at one point went bankrupt, Elon Musk is now worth a mind-boggling $289 billion.

The personal wealth of Tesla's $(TSLA)$ chief executive officer shot up by $36.2 billion on Monday, according to the Bloomberg Billionaire Index. He's now comfortably ahead of Amazon $(AMZN)$ CEO Jeff Bezos's $193 billion wealth pile, that dropped by $751 million on Monday as shares of the e-commerce giant fell 0.5%.

Even combining the wealth of Microsoft $(MSFT)$ co-founder Bill Gates and Facebook (FB) boss Mark Zuckeberg doesn't touch Musk's money pile -- their combined wealth is $257 billion.

Tesla's valuation surged past $1 trillion on Monday, with the stock closing at a record high of $1,024.86 after Hertz announced plans to order 100,000 Tesla vehicles and a Morgan Stanley analyst lifted his forecast on the auto maker.

Hertz emerged from bankruptcy this summer, after filing more than a year ago due to the pandemic.

As for Musk, his one-day wealth gain surpassed that of gross domestic products for entire countries, including Estonia, Latvia and Bolivia.

He's also dominating rival auto makers of course.

The Wolf Street blog neatly visualized Tesla's market cap against automakers including Toyota (7203.TO), Volkswagen , BYD , Daimler , General Motors, $(GM)$ BMW , Ford $(F)$, Stellantis (STLA.MI), Honda (7267.TO) and SAIC .

-Barbara Kollmeyer

$(END)$ Dow Jones Newswires

October 26, 2021 04:22 ET (08:22 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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He's now comfortably ahead of Amazon <a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a> CEO Jeff Bezos's $193 billion wealth pile, that dropped by $751 million on Monday as shares of the e-commerce giant fell 0.5%. \n</p>\n<p>\n  Even combining the wealth of Microsoft <a href=\"https://laohu8.com/S/MSFT\">$(MSFT)$</a> co-founder Bill Gates and <a href=\"https://laohu8.com/S/FB\">Facebook</a> (FB) boss Mark Zuckeberg doesn't touch Musk's money pile -- their combined wealth is $257 billion. \n</p>\n<p>\n  Tesla's valuation surged past $1 trillion on Monday, with the stock closing at a record high of $1,024.86 after Hertz  announced plans to order 100,000 Tesla vehicles and a <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> analyst lifted his forecast on the auto maker. \n</p>\n<p>\n  Hertz emerged from bankruptcy this summer, after filing more than a year ago due to the pandemic. \n</p>\n<p>\n  As for Musk, his one-day wealth gain surpassed that of gross domestic products for entire countries, including Estonia, Latvia and Bolivia. \n</p>\n<p>\n  He's also dominating rival auto makers of course. \n</p>\n<p>\n  The Wolf Street blog neatly visualized Tesla's market cap against automakers including Toyota (7203.TO), Volkswagen , BYD , Daimler , General Motors, <a href=\"https://laohu8.com/S/GM\">$(GM)$</a> BMW , Ford <a href=\"https://laohu8.com/S/F\">$(F)$</a>, Stellantis (STLA.MI), Honda (7267.TO) and SAIC . \n</p>\n<p>\n  -Barbara Kollmeyer \n</p>\n<pre>\n \n</pre>\n<p>\n  <a href=\"https://laohu8.com/S/END\">$(END)$</a> Dow Jones Newswires\n</p>\n<p>\n  October 26, 2021 04:22 ET (08:22 GMT)\n</p>\n<p>\n  Copyright (c) 2021 Dow Jones &amp; 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