Elon Musk ‘s net worth has skyrocketed by $67 billion following Tesla ‘s long-running stock rally , Business Insider reported . The surge has returned him to the title of the world’s richest person.
Tesla shares closed higher on Tuesday (July 9), marking a 10-day winning streak, with a 44% gain since late June.
According to Business Insider, the 10-day rally has raised Musk’s net worth to $274 billion.
“Perhaps the biggest factor is the growing excitement around Tesla’s ‘robotaxi,’ a fleet of fully autonomous vehicles that could help the company compete with Uber and other ride-hailing apps,” said Stocklytics analyst Neil Roarty. “With less than a month to go until the robotaxi is expected to launch, traders appear to be betting big on it.”
Musk’s $274 billion fortune makes him about $53 billion richer than Jeff Bezos, currently the world’s second-richest person.
Still, many believe Musk still has a long way to go to reach his record net worth of $338 billion, which he achieved in November 2021.
The bulk of Musk’s wealth comes from his Tesla stock holdings (currently worth about $108 billion), followed by his $82 billion stake in SpaceX.
