Runs at Tesla. Musk deserves to be stupid and stupid. Image: AP
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Elon Musk has become so (incredibly) much richer in the past few days
In all American sports, the MVPs are the most valuable players. The Kansas City Chiefs quarterback Patrick Mahomes recently won this award for his performance during the Super Bowl. The case was clear. Mahomes was outstanding.
There was an equally clear MVP on the stock exchanges in January: Elon Musk.
The founder of the electric vehicle manufacturer Tesla sparked euphoria in the fourth quarter of 2019 with black numbers, which was carried over to the share price. The Tesla share has exploded. Yesterday it closed with an increase of 14 percent, the day before with 20 percent.
These are daily increases in value that are otherwise only known from cryptocurrencies. Quite a few compare the situation of Tesla shares with that of Bitcoin in December 2017, when the price doubled in a few days, but then crashed.
The tremendous price increase of the Tesla security delights some clever speculators – but above all Elon Musk gets really rich with it. Musk himself holds 38.5 million Tesla shares (exactly 38,572,790). He is by far the largest owner of Tesla with over 21 percent shares.
On January 22, Forbes and Bloomberg estimated Elon Musk’s fortune at $ 34 billion. Around 22 billion of these come from Tesla shares, which were trading for $ 570 at the time.
A lot has happened since then. Yesterday the stock closed at $ 887 – $ 317 higher. For Elon Musk, this means an interim capital gain of $ 12.2 billion.
Musk has increased his wealth by almost a billion every day for the past 13 days. This means that he has earned more every day in the past 13 days than Roger Federer has done throughout his career (including all advertising money). In fact, they are:
- … $ 938 million a day
- … $ 39 million every hour.
- … $ 650,000 every minute.
- … $ 10,833 per second.
With a fortune of 46.2 billion, Musk climbs to number 19 in the list of the richest people on the planet. In 2019, he was listed as number 40.
And the Tesla founder can rub his hands. Although he does not receive a salary from Tesla, he has put together a complicated deal. If he reaches a target price, he can purchase stock packages at favorable conditions. He has already exceeded two of these goals. For this he had to drive the value of the company to over 100 and 150 million respectively. If Tesla stays above these guidelines for six months, he can access it.
It remains to be seen whether the Tesla share can sustainably stay in these areas. Most experts assume a correction. Maybe today.
(Tog)
