Musk is now worth almost $270 billion, according to Forbes, putting him about $58 billion ahead of his good friend and former Tesla board member Larry Ellison.
Prior to the earnings announcement, Tesla shares had been slumping and were headed for their worst month since January. But the stock erased its loss for the year and is now up 5% in 2024, compared to the Nasdaq's 23% gain.Tesla reported earnings per share of 72 cents, topping the average analyst estimate of 58 cents. Profit was boosted by $739 million in revenue for environmental regulatory credits and $326 million in revenue from FSD, the company's Full Self-Driving Supervised system.
And while Musk unveiled both a heavy-duty Semi truck and a Roadster refresh in 2017, the Roadster design is still not finalized, and the company is only in"pilot production" with the Semi.shortly after the first assassination attempt on the former president in July, Musk has stepped up his rhetoric, most notably on X, and has contributed tens of millions of dollars to a political action committee that's supporting the Republican nominee.
The U.S. Department of Justice has warned the PAC that Musk's voter sweepstakes may violate federal election law, a source familiar with the matter