Another Day at the Office: Elon Musk Gains $1.1 Billion on Shares Boom

There’s really no denying that Tesla and Space X’s Elon Musk, of PayPal fame, is a skilled businessman who has managed the seemingly impossible feat of creating a innovative automotive manufacturer of electric cars out of nothing and adding a fair big of heft behind the name in a very short time span, helping his company overcome the numerous hurdles it’s come across.

Now, he’s made $1.1 billion (that’s €805 million), in one day, solely on ascending shares of both Tesla and another company that he’s involved with, SolarCity. That’s quite a feat, especially if you’re not any kind of silver-spooned skullandbonesian of sorts these days…

That makes Musk, now 42, the world’s 92th richest person, according to Bloomberg and its Billionaires Index, with an estimated net worth of $3.8 (€2.8) billion.

The rise can also be attributed to Muskt’s talks of gigantic battery factories that would be able to supply Tesla with exactly the batteries that they’d need and supposedly at lower cost – it would also mean the company would need less help from unreliable third parties that can go bust at any moment and mess everything up.

He made the news last week too, when he talked about the successful coast-to-coast journey that was completed solely using their free Supercharger network of fast chargers (LA to NY in 76 hours). Check out what he had to say about that, in the CBS video posted below.

By Andrei Nedelea

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