- Elon Musk's net worth soared by about more than $30 billion on Thursday after Tesla stock surged 22%.
- Tesla's third-quarter earnings exceeded expectations, boosting the company's market value by $153 billion.
Elon Musk added more than $30 billion to his net worth on Thursday after Tesla stock soared following its third-quarter earnings results.
Shares of Tesla jumped 22% on Thursday, adding about $150 billion in market value as investors cheered the automaker's higher-than-expected gross margins, plans for a lower-cost vehicle in 2025, and Elon Musk's guidance of up to 30% growth in vehicle deliveries next year.
The massive gain puts Elon Musk's total net worth at just over $270 billion, according to data from Bloomberg.
Thursday's surge in Tesla stock solidifies Musk's position as the world's richest person, well ahead of other executives at the top of the list including Jeff Bezos and Larry Ellison.
Musk's fortune is derived from his 13% stake in Tesla and about 304 million exercisable stock options from his 2018 compensation package, according to Bloomberg. Musk's entire Tesla stake is worth about $123 billion.
Musk's second largest source of wealth is SpaceX. The billionaire owns about a 42% stake in the space exploration company with a total value of just over $80 billion, according to Bloomberg.
Finally, Musk's ownership stakes in X, The Boring Company, Neuralink, and xAI are worth a combined $24 billion, Bloomberg estimates.