Elon Musk Now Worth $274 Billion As Tesla Stock Breaks Above $1,000 

Elon Musk Now Worth $274 Billion As Tesla Stock Breaks Above $1,000 

Elon Musk, the world’s richest man and Time magazine’s 2021 personality of the year, saw record gains this week as Tesla stock rose over $1,000 on the eve of Christmas, posting $12.9 billion in daily gains.

Elon Musk’s current net worth is $274 billion.

iexclusive News Nigeria reports that this year, Elon Musk has made $118 billion. His current net worth is worth 151 million troy ounces of gold or 3.58 billion barrels of crude oil.

Tesla shares have risen for the third session in a row. As a result, the price rose above the December 10 resistance level of $1,020, providing investors with an opportunity to retest the December 8 range high of $1,072.

It was worth $1,067 on Thursday, up more than 5% from the previous day.

Furthermore, according to Bloomberg, investors are betting big on the stock after Tesla secured the majority of battery-grade graphite from a new plant in Louisiana owned by Australia-based Syrah Resources.

Tesla will initially have the right to increase its supply capacity by 10,000 short tons per year.

Graphite is used as an anode in batteries, and China produces the majority of the world’s battery-grade graphite.

Syrah Resources of Mozambique will supply the graphite. Syrah expects its Mozambique production to reach 40,000 tons by the middle of this decade.

Musk revealed on Wednesday that he has sold over $15 billion in company stock since early November.

In an interview with the conservative satirical website Babylon Bee on Tuesday, the billionaire made contradictory statements about whether he was done or not.

“I sold enough stock to get to around 10% plus the option exercise stuff,” he explained in the interview.

According to Tesla filings, Musk exercised stock options that expire next year and sold a portion of the stock to pay taxes under the September Rule 10b5-1 trading plan.

Musk is the CEO of Tesla, the world’s most valuable automobile company, as well as SpaceX, a privately held company that counts the National Aeronautics and Space Administration among its customers.

Musk owns approximately 17% of Tesla, according to a December 2021 regulatory filing.

According to Bloomberg, he owns approximately 65 million options to purchase Tesla stock, which are valued at their net value.