New Street Research managing partner Pierre Ferragu offers insights into Tesla’s profitability, stock and future.
Elon Musk’s personal fortune knows he seems to be flying higher than a SpaceX rocket.
Bloomberg reported on Monday that Telsa CEO Musk has surpassed Bill Gates to become the second richest man in the world behind Jeff Bezos.
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A rally by Tesla on Monday earned Musk about 7. 7.2 billion, with his new fortune reaching 7 127.9 billion, the report said.
The report said Gates’ total wealth would be higher but he has donated large sums to charities over the years, including 27 27 billion to his Gates Foundation.
Last week, it was reported that Tesla would be added to the S&P 500 index on December 21st. Shares of Tesla jumped nearly 14% in after-hours trading after the announcement.
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Shares of Tesla have risen as much as 7 38% .. 8% this year as the company is finally making money on a consistent basis after years of losses and constantly hitting targets for the delivery of its vehicles. Tesla posted revenue of 8. 1.331 billion in the third quarter, up 77 77.877 billion.
Shares of Tesla could double in the next five years as global demand for electric vehicles increases, a Wall Street analyst said.
The Associated Press contributes to this report
