By Dawn Allcot
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After a strong Q3 earnings call, Tesla stock was already on the upswing. Then, on Monday, rental car company Hertz Global Holdings Inc. placed an order for 100,000 Teslas. This pushed Tesla’s stock up 9.8%, giving the company a market cap exceeding $1 billion. Tesla shares briefly piqued at $1,036 before a slight dip, presumably due to sellers taking profits. This growth added $28.58 billion to Musk’s net worth, according to TheTechPortal.com.
While two-thirds of Musk’s net worth is made up of Tesla stock, it’s not the only reason it climbed significantly this week. Musk’s 2018 Tesla stock option package vested in Q3, which contributed another $8 billion to his personal bottom line.
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Tesla also reported record-breaking revenue of $1.62 billion in the third quarter of 2021, according to TheTechPortal.com. Meanwhile, Musk’s other primary focus SpaceX recently completed two public hearings with the Federal Aviation Administration regarding the launch of the Starship / Super Heavy Luanch in Boca Chica, Texas. Interested parties are invited to view a Power Point of the hearing and share their comments through spacexbocachica@icf.com.
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While the tunnel system seeks to keep traffic congestion underground, it looks like nothing, at least at this moment, can keep Musk (or his vast net worth) down.
Last updated: October 25, 2021
