Elon Musk's net worth surged by $18.2 billion on Thursday, April 25, after Tesla Inc. shares posted their strongest daily gain in months, closing up nearly 10%.
According to the Bloomberg Billionaires Index, Musk's net worth now stands at an estimated $335 billion.
Tesla's stock ended the trading session at $284.95, rising 9.8 per cent on the back of better-than-expected quarterly earnings and a series of analyst upgrades, sparking renewed investor optimism. However, despite the sharp rebound, Musk's year-to-date wealth remains down by about $97.7 billion, reflecting a 22.6 per cent decline from January highs.
Also, Musk's artificial intelligence venture, xAI Holdings, is reportedly seeking around $20 billion in fresh funding. According to Bloomberg, the fundraising would support the growth of both xAI and Musk's social media platform, X (formerly Twitter), which Musk privatised in 2022. Part of the new capital is also expected to go toward paying down the substantial debt incurred during the Twitter acquisition.
If successful, the funding round would become the second-largest ever for a startup, behind only OpenAI's $40 billion raise earlier this year, based on data from PitchBook.
Tesla remains the bedrock of Musk's immense fortune. He currently controls about 13 per cent of the company's publicly traded shares and holds approximately 304 million stock options tied to a 2018 compensation package. Although a Delaware court ruled earlier this year to void the controversial pay deal - a decision reaffirmed after a shareholder vote - the options are still included in wealth estimates pending the outcome of an ongoing appeal.
Musk's resurgence comes at a critical time, as he juggles leadership roles across Tesla, SpaceX, X, and now xAI, while navigating complex legal and financial challenges.
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