1srelluc
Diamond Member
Elon Musk, already the richest man in the world, saw his wealth grow by an astonishing $34 billion in a single day on Thursday, cementing his lead atop the ultrarich rankings. The surge in his net worth followed a blockbuster earnings report from Tesla that sent the company’s stock soaring by 22%, marking its best performance since 2013.
Tesla’s latest quarterly results, though mixed, delivered one critical element that investors had been eagerly awaiting: profit. The electric vehicle giant posted its largest quarterly profit since mid-2023, a rebound after four straight quarters of disappointing earnings. This came despite falling short of revenue expectations, which many had feared would continue to drag the company down. The optimism, however, was driven by Musk’s confident projections during the earnings call, where he announced that Tesla could see vehicle sales growth of 20% to 30% in the coming year.
The real surprise, however, came in Musk's declaration that Tesla's long-awaited Cybertruck had finally achieved profitability for the first time in its quarterly sales—a milestone that investors took as a sign of the company’s ability to innovate its way out of production issues.
It's really almost beyond comprehension.
As a matter of perspective, he could spend $37 million a day for the next 20 years before he ran out of the money he made today....Truly FU money.
They were saying he is on track to be the first trillionaire by the end of 2026.
