Trading on the stock has exchanged brought Elon Musk $25 billion per day

Earlier, the state of the entrepreneur in terms of ownership in Tesla decreased by $27 billion.

Shares of Elon Musk-owned Tesla continued to rise significantly in trading on Wednesday, thanks to which the entrepreneur’s fortune increased by $25 billion. The relevant information is provided in the Bloomberg ranking of the richest people in the world.

Tesla shares have been declining since last week. A particularly sharp drop occurred on Monday when securities fell by 5.84%. The company’s capitalization fell to $540.4 billion, which is more than a third less than the maximum level reached in early January when the capitalization was almost $850 billion. Musk’s net worth in terms of his ownership stake in Tesla fell by $27 billion.

But in less than two hours of trading on Tuesday, the stock price rose almost 15% – from $563 per share to $645. The capitalization reached $608.5 billion, which is almost $70 billion higher than at the close of the exchanges on Monday. On Tuesday, the entrepreneur increased his capital by more than $12 billion. The upward trend has continued. Musk’s fortune, therefore, rose again on Wednesday – this time by $25.1 billion. At the same time, he is only $6 billion behind the richest man in the world – Amazon founder Jeff Bezos.

Attempts to calculate the level of wealth based on changes in the capitalization of campaigns are very relative. Musk has never sold Tesla stock. The loss of even a third of the company’s capitalization since the beginning of January is insignificant compared to its rapid growth in 2020. The company’s share price rose by more than 700%. Musk is also a major shareholder in SpaceX, a space launch company.

Author: Steve Cowan
Graduated From Princeton University. He has been at the Free Press since October 2014. Previously worked as a regional entertainment editor.
Function: Chief-Editor
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