Posted on 06/09/2023 5:07:57 AM PDT by SeekAndFind
Tesla CEO Elon Musk reclaimed his throne as the richest man on earth Thursday, wrestling the title away from LVMH chairman Bernard Arnault as shares of Musk’s electric vehicle giant surged to their highest level this year.
Tesla stock rallied 3% to as high as $233 in Thursday trading, on pace for its 10th straight day of gains.
Musk’s firm is on pace for its highest closing share price since October 6, 2022.
After cratering to a two-year low in early January, Tesla shares are up 109%, the third-largest return of any company in the S&P 500, which is up 12% this year.
That rally has propelled Musk to once again become the richest person on the planet, according to Forbes’ calculations, pegging Musk’s net worth to be $217.8 billion, $1.8 billion bigger than Arnault’s by just after 1 p.m. ET.
On Wednesday, Musk briefly topped Arnault for the first time since December, though he slid below Arnault again by market close.
Despite the sustained rally, shares of Tesla remain 44% below their November 2021 peak of $410, far underperforming the S&P’s 6% loss during the period.
(Excerpt) Read more at forbes.com ...
Sounds like he’s made up for the cost of buying Twitter.
Hopefully he now buys CNN or something like it.
I think his priority is to buy himself a US President..
Meet the new boss, same as the old boss.
“I think his priority is to buy himself a US President.”
Assuming Trump, I’d be cool with it.
No.. The main reason I supported candidate Trump, was he was not beholden to the billionaire donor class…. I turned my back to the foxes, there is no way I would vote for their chosen candidate.. musk same…
Amazing since China has become the number one ev mfg in the world.
Hard to see Trump sucking up to anyone, and so if Musk wants to help him...won’t change Trump a bit.
Musk has already bought himself a candidate .. Did you miss the blue bird flop announcement.
The Tesla share price rose after the twin announcements from Ford and GM that they will be using the Tesla charger network to recharge their EV’s
The announcement places Tesla in the Charger business as well as the EV business. Tesla in now gaining revenue by selling charging to competitor vehicle owners. That is a second and immensly large profit stream.
Isn’t there some Saudi guy that’s worth a lot more than Musk?
I like Elon. ❤💙💚
RE: I think his priority is to buy himself a US President..
He’s not a NATURAL BORN CITIZEN. If he wins, we might as well throw the constitution out the window.
... confirming PT Barnum's dictum, "There's a sucker born every minute."
Did it help that so many woke corporations saw their numbers drop? Asking for a friend.
I wonder why he has so much hostility for work from home?
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