The world’s richest person widened the gap on the competition after awarding Jeff Bezos a tongue-in-cheek silver medal.
he U.S. stock market has almost made a full recovery from its 4.7% decline in September, and the world’s richest person is reaping more of the rewards than anybody.
Elon Musk’s fortune swelled to a whopping $214.8 billion this week, increasing by $12.7 billion as Tesla stock posted steady gains every day and rose 7.3% from Monday to Friday to cross $800 per share for the first time since February. Tesla outperformed the S&P 500’s 1.8% increase this week, while the Dow Jones Industrial Average also gained 1.6%, fueled by a strong finish to the week on Thursday and Friday.
Tesla stock has surged nearly 50% since May 19 as the electric carmaker continues to deliver vehicles in record numbers. It said in early October that it delivered 241,300 cars in the second quarter, and this week it revealed it sold 56,000 cars in China in September from its Shanghai production facility, 12,000 more than it did in August. Jefferies raised its price target on Tesla shares to $950 leading up to its third quarter earnings report next Wednesday.
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