Elon Musk Gains $30 Billion in a Day, Declares Tesla ‘Most Powerful Company in the World

Elon Musk, the world’s richest person, added an impressive $34 billion to his fortune in a single day on Thursday, reinforcing his lead at the top of the wealth rankings. This surge followed Tesla’s blockbuster earnings report, which sent its stock up 22%—the company’s best single-day performance since 2013.

Tesla’s quarterly results, though mixed, provided a crucial element that investors had long awaited: profit. The electric vehicle giant posted its largest quarterly profit since mid-2023, rebounding after four disappointing quarters. Although Tesla missed revenue projections, investor confidence surged due to Musk’s positive outlook during the earnings call, where he projected vehicle sales growth between 20% and 30% for the coming year.

The highlight, however, was Musk’s announcement that Tesla’s long-awaited Cybertruck finally achieved profitability in quarterly sales, a milestone that reassured investors of the company’s capacity to overcome production challenges.

Musk’s personal fortune grew by $30 billion in a day—his third-largest single-day gain ever—bringing his net worth to $270.3 billion and widening his lead over Jeff Bezos by $61 billion. Musk’s wealth is largely tied to Tesla’s stock, which represents about three-quarters of his net worth, though stakes in SpaceX, the social platform X, and his AI venture xAI have also bolstered his fortune.

During the earnings call, Musk shared his ambitious vision for Tesla’s future, aiming for dominance not just in the EV market but beyond.

“I predict Tesla will become the most valuable company in the world, and probably by a significant margin,” Musk declared.

Tesla’s push into autonomous driving is at the heart of its strategy. Musk announced plans to launch “Cybercab” robo-taxis as early as 2026, with production targets in the millions per year. While regulatory challenges persist, Musk expressed confidence that Tesla would lead the autonomous revolution.

Despite Musk’s optimism, some questions remain, including ongoing delays with the Tesla Roadster, an upgraded version of Tesla’s original sports car announced in 2017. Musk now claims it is “close” to finalization, hinting that when it finally arrives, it will be “spectacular.”