Elon Musk has made more money on his Tesla Motors Inc. stake over the past two days than over any other two-day period in the 14 years that the electric-vehicle maker has been publicly traded.
Musk, the co-founder and chief executive of Tesla, owns 715,022,706 shares of the EV maker, according to his latest filings of ownership.
That represents 22.3% of the 3.21 billion Tesla shares outstanding as of Oct. 18, enough to make him the largest shareholder by far, according to FactSet data.
The stock soared $46.83, or 21.9%, on Thursday, after a blowout third-quarter earnings report. It rose another $8.71, or 3.3%, on Friday, ending at its best since Sept. 15, 2023.
The two-day price gain of $55.54, or 26%, was the best two-day stretch since the two sessions ending on Feb. 4, 2020, when it rose 36%.
That price gain would mean the value of Musk’s shares would have increased by a two-day record of $37.875 billion, to reach nearly $190.64 billion.
Musk was already the world’s richest person, with a total net worth of about $270 billion on Thursday, according to the Bloomberg Billionaires Index. He’s now just that much richer.
Tesla’s stock has run up 22% his week, which makes it the S&P 500 index’s SPX best performer over that time. In comparison, the Roundhill Magnificent Seven ETF MAGS has tacked on 3.3% this week, while the S&P 500 has slipped 0.9%.
