kicked off a Tuesday presentation at Tesla’s Shanghai plant by tearing off his blazer and dancing enthusiastically to a song by his girlfriend, pop star Grimes. The eccentric CEO and founder has a multibillion-dollar reason to be in such high spirits.
Shares surged 13% in the week through January 9—boosting Musk’s net worth by $2.1 billion, to $28.8 billion. The 49-year-old billionaire is currently the 34th-richest person in the world. Musk owns nearly 22% of Tesla’s stock, which accounts for roughly half of his fortune. He also has an estimated $12.5 billion stake in SpaceX, his privately held aerospace company known for reusable rockets.
Wedbush analyst Daniel Ives is confident in Tesla, highlighting growth potential in China. “We believe Tesla’s ability to ramp production and demand in the key China region during the course of 2020 will be a major swing factor on the stock,” Ives wrote in a research note.
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