Is This What a Super Rich Life Looks Like?... Musk, Benefiting from Tesla, Earns 46 Trillion Won in One Day

Tesla Stock Price Rises Most Sharply in 11 Years
Elon Musk's Wealth Increases by $33.5 Billion with Stock Surge

Tesla's stock price surged by the largest margin in 11 years, increasing the wealth of Elon Musk, Tesla's Chief Executive Officer (CEO) and the world's richest person, by $33.5 billion (approximately 46.2635 trillion KRW) in a single day. On the 24th (local time), Bloomberg and other foreign media reported that Tesla shares jumped 21.92% on the New York Stock Exchange (NYSE). This is believed to be due to the strong earnings released after the market closed the previous day.

Tesla's stock price surged the most in 11 years, increasing the net worth of Elon Musk, the world's richest person and Tesla CEO, by $33.5 billion (approximately 46.2635 trillion KRW) in just one day.
[Photo by AP·Yonhap News]

Earlier, Tesla announced that its third-quarter revenue rose 8% year-over-year to $25.18 billion. Earnings per share (EPS) were $0.72, significantly exceeding the expected $0.58. As a result, Tesla's market capitalization increased by more than $149.6 billion in one day, reaching $832.1 billion. The stock price also returned to an upward trend compared to the beginning of the year. With Tesla's stock price rising, Musk's wealth increased by $33.5 billion, solidifying his position as the world's richest person according to the Bloomberg Billionaires Index.

Musk Widens Wealth Gap with Jeff Bezos

This achievement reversed Tesla's recent sentiment. Tesla had posted disappointing results for several quarters due to a slowdown in electric vehicle demand. Additionally, Musk's political activities and a lawsuit over a $56 billion Tesla stock option package negatively impacted the company. However, after the third-quarter earnings announcement, Musk predicted a rebound during a webcast, expecting Tesla's vehicle sales to grow by up to 30% next year.

Meanwhile, recently Musk has been raising his support for former President Donald Trump, the current Republican presidential candidate in the United States. Over the past few weeks, Musk has participated in Trump's Pennsylvania presidential campaign rallies and has donated $75 million for Republican voter mobilization efforts and digital advertising funds. Trump also responded positively to Musk's support.
[Photo by AFP·Yonhap News]

Meanwhile, Musk's wealth reached $270.3 billion (373.2843 trillion KRW), $61 billion (approximately 84.241 trillion KRW) more than Jeff Bezos, the second-richest person and founder of Amazon. About three-quarters of Musk's wealth consists of Tesla stock and options. He also holds significant stakes in SpaceX, the social media platform X, and the artificial intelligence (AI) subsidiary xAI.

Meanwhile, Musk has recently been vocal in supporting former President Donald Trump, the current Republican presidential candidate in the United States. Over the past few weeks, Musk participated in Trump's Pennsylvania campaign rallies and donated $75 million to Republican voter mobilization efforts and digital advertising. Trump responded to Musk's support.

Trump stated that if he wins re-election, he plans to establish a new department called the "Department of Government Efficiency," aimed at minimizing bureaucracy, and will ask Musk to lead it. Musk said that if he works in a Trump administration, he will push for federal approval procedures for autonomous vehicles. He added, "I expect Tesla to become the most valuable company in the world, probably in the distant future."