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Added on the 13/06/2019 17:07:04 - Copyright : Wochit
On Friday, Tesla climbed as much as 8.4%. That's the 11th straight day of gains as the automaker's massive rally continues into the new year. The billionaire investor Chamath Palihapitiya said Thursday that Tesla's market cap stood to triple from its already lofty levels. Investor Michael Burry told Tesla bulls in a tweet on Thursday that they should enjoy the rally "while it lasts."
Billionaire investor Chamath Palihapitiya told CNBC Tesla's stock could be worth three times more than its current valuation. According to Business Insider that would make CEO Elon Musk the first trillionaire in history. Palihapitiya's comments come as Tesla shares shot up 6.9%. Elon Musk surpassed Jeff Bezos as the richest person on the planet on Thursday. Palihapitiya said Tesla is a "distributed energy business." He's believed for a while that the world's first trillionaire will be a person who is fighting climate change. Palihapitiya said "Don't sell a share" of Tesla, he told investors.
Business Insider reports that Elon Musk is now the richest man in the world. His net worth has skyrocketed to $187 billion. He is the CEO of two companies, Tesla and SpaceX, and the founder of three more. He's also been married three times and has triplets and twins. He recently had another baby with his girlfriend, the musician Grimes.
On Monday, Tesla stock climbed as much as 5%. Business Insider reports that Tesla's market capitalization is north of $700 billion. Elon Musk's company exceeded its production target of 500,000 vehicles last year. The company has fallen just short of 500,000 deliveries. "So proud of the Tesla team for achieving this major milestone!" Musk tweeted about the news. Tesla's stock price soared by more than 740% in 2020.
Pool/Getty Images Perhaps nobody had a better year, financially speaking, than Tesla and SpaceX CEO Elon Musk. The billionaire saw his wealth more than quintuple during a pandemic that's left hundreds of thousands dead and many more out of work. Yet the magnate takes a very small salary, instead relying on massive stakes in his companies to accumulate wealth. With Tesla's stunning performance this year, it's no surprise that those equity values have also swelled. Visit Business Insider's homepage for more stories.
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