Photo/VCG
Tesla's stock price has surged recently, propelling CEO Elon Musk's personal wealth to a record high. According to reports, Musk's net worth has reached $347.8 billion, breaking his previous record set in November 2021.
Since the U.S. presidential election on November 5th, Tesla's shares have jumped approximately 40%, with the company's market value rising to $1.13 trillion on November 22nd. Analysts attribute the stock's rise to market expectations that Tesla will benefit from policies supporting autonomous driving under President Trump's second term. Elon Musk's personal wealth soared by over $83 billion in less than a month.
Musk is betting Tesla's future on autonomous driving technology and AI. If new regulations make fully driverless cars a reality, he stands to gain significantly. As a major donor to Trump's campaign, Musk has become a key figure in Trump's inner circle.
In Q3 of 2024, Tesla reported revenue of $25.182 billion, an 8% increase YoY; net profit was $2.167 billion, up 17% YoY; gross margin increased to 19.8%, adding about 2 percentage points YoY; even excluding other businesses and carbon credit profits, its automotive gross margin reached 17.1%.
Tesla's global EV deliveries in Q3 2024 hit a record high of approximately 463,000 vehicles. Musk is optimistic, predicting a 20%~30% increase in car sales for 2025, barring any major negative events.