Tesla CEO Elon Musk added $26 billion to his wealth after the company's stock surged 22%, the biggest rally since 2013. Musk is now worth about $269 billion. Tesla’s better-than-expected earnings and Musk’s projection of vehicle growth in 2025 boosted the stock. Musk controls around 13% of Tesla shares, which form a significant portion of his wealth, alongside stakes in SpaceX and xAI. Tesla shares had declined before the earnings announcement but have now recovered, gaining 5% in 2024.
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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Tesla CEO Elon Musk added $26 billion to his wealth after the company's stock surged 22%,
00:08the biggest rally since 2013. Musk is now worth about $269 billion.
00:15Tesla's better-than-expected earnings and Musk's projection of vehicle growth in 2025
00:19boosted the stock. Musk controls around 13% of Tesla shares, which form a significant
00:25portion of his wealth, alongside stakes in SpaceX and XAI. Tesla shares had been declining
00:31before the earnings announcement but have now recovered, gaining 5% in 2024.