Referenced Symbols
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TSLA
3.32% -
SPX
-0.09% -
MAGS
1.18%
Elon Musk has made more money on his Tesla Inc. stake over the past two days than over any other two-day period in the 14 years that the electric-vehicle maker has been publicly traded.
Musk, the co-founder and chief executive of Tesla
TSLA
, owns 715,022,706 shares of the EV maker, according to his latest filings of ownership.
That represents 22.3% of the 3.21 billion Tesla shares outstanding as of Oct. 18, enough to make him the largest shareholder by far, according to FactSet data.
The stock soared $46.83, or 21.9%, on Thursday, after a blowout third-quarter earnings report. It rose another $6.14, or 2.4%, in afternoon trading on Friday, which puts it on track for its highest close since Sept. 15, 2023.
Read: Tesla’s stock sees best day in 11 years. Why it’s hard not to be bullish.
The two-day price gain of $52.97 would be the most since the stock went public in June 2010, passing the current record gain of $43.85 over the two days ending Nov. 1, 2021.
That price gain would mean the value of Musk’s shares would have increased by a two-day record of $37.875 billion, to reach nearly $190.64 billion.
Musk was already the world’s richest person, with a total net worth of about $270 billion on Thursday, according to the Bloomberg Billionaires Index. He’s now just that much richer.
Tesla’s stock has run up 20.8% his week, which makes it the S&P 500 index’s
SPX
best performer over that time. In comparison, the Roundhill Magnificent Seven ETF
MAGS
has tacked on 3.3% this week, while the S&P 500 has slipped 0.9%.
