Elon Musk's wealth surges by $30 billion after Tesla stock jumps on record 4th quarter deliveries



Musk is the CEO of the company.

The images are Win McNamee.

In a single day, Musk added $30 billion to his fortune.

The CEO's wealth increased after the electric-car maker reported a record number of vehicle deliveries. Its stock increased by 13.5% to close at $1,199.78 a share.

The EV-maker delivered more than 300,000 vehicles in the quarter, smashing analyst estimates and increasing annual vehicle deliveries by 87%.

It was described as a "jaw-dropping" performance, given the difficulties the automobile industry had last year. The rest of the year looks good for the EV-demand trajectory ofTesla.

Musk's fortune was built on his lead by adding $33.8 billion from the gain of his company. His net worth is now $304 billion. Bezos has a net worth of $196 billion.

In October, the company hit a $1 trillion valuation after it was announced that it would order 100,000 Model 3 vehicles. That helped boost Musk's fortune to its highest level ever of $340 billion.

Musk's wealth fell after he shared that he planned to sell 10% of his stake in the company. In December, the company's worth rebounded to $1 trillion.

Musk has sold about $16 billion worth of shares in the company since November as part of a plan to pay taxes on options that are due in August. He boosted his stake in the company by exercising 22.9 million options.
After taking inflation into account, Musk's net worth hit $340 billion, making him the richest person in modern history.

In Tuesday's premarket session, the company's share price was $1,195.64 per share.

Wall Street was trounced by amateur traders, apes, and meme lords for 2 years. The big shots are going to hit back.

Business Insider has an original article.