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Elon Musk's wealth soars $44b as Tesla comes roaring back
The Straits Times
|October 26, 2024
Mr. Elon Musk added US$33.5 billion (S$44.2 billion) to his net worth on Oct 24 as Tesla shares posted their biggest gain in more than a decade, extending the world's richest person's lead atop the Bloomberg Billionaires Index.
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Tesla shares ended the day up 22 percent and turned positive for the year after the company reported its largest quarterly profit since the summer of 2023.
Mr. Musk forecast as much as 30 percent growth in vehicle sales in 2025 on a webcast following the release and announced that the Cybertruck generated a quarterly profit for the first time.
The pop came after four straight quarters of disappointing earnings for the world's largest electric vehicle maker, which has struggled amid slowing consumer demand.
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