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1

Social Security's 2032 deadline puts a 22% cut on the table — but Washington has way less room to negotiate than 1983

2

CEO of $20 billion AI firm Perplexity says the secret to success is ‘sleeping with that fear’ that your competitor will steal your idea

3

Boomers actually do hold most of the wealth and power. So why do they call it 'whiny' to point that out?

1

Social Security's 2032 deadline puts a 22% cut on the table — but Washington has way less room to negotiate than 1983

2

CEO of $20 billion AI firm Perplexity says the secret to success is ‘sleeping with that fear’ that your competitor will steal your idea

3

Boomers actually do hold most of the wealth and power. So why do they call it 'whiny' to point that out?
FinanceElon Musk

The latest Tesla shares rally pushes Elon Musk’s net worth above $300 billion

By
Donald Moore
Donald Moore
and
Bloomberg
Bloomberg
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By
Donald Moore
Donald Moore
and
Bloomberg
Bloomberg
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January 4, 2022, 6:28 AM ET

Elon Musk started 2022 with a bang.

Tesla Inc. reported it had smashed its previous record for vehicle deliveries, spurring a rally in the electric car-maker’s shares and creating one of the biggest one-day jumps in wealth.

Musk’s fortune jumped by $33.8 billion on Monday to $304.2 billion, according to the Bloomberg Billionaires Index. Jeff Bezos, second on the list, has a $196 billion fortune.

Tesla’s shares rose 13.5% to $1,199.78 on Monday after fourth-quarter results handily exceeded analysts’ estimates for auto deliveries. 

The company’s market valuation jumped back above $1 trillion last month after a dip in November and early December.

Musk, who owns about 18% of Tesla, helped trigger the slide when he said he would reduce his stake in the company by 10%. He’s sold more than $10 billion worth of shares since November, part of a plan to generate cash to pay tax obligations.

Musk’s net worth, which also includes his stake in rocket manufacterer SpaceX, reached a high of $340 billion last year, surpassing the peak inflation-adjusted net worth of John D. Rockefeller and briefly making him the richest person in modern history. 

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