Business
Updated: March 10, 2021

Elon MuskGains $25b in One Day As Tesla Grew By 20 Percent

By Jide Alawode
March 10, 2021
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Elom Musk, CEO of Tesla and Space X saw his wealth valuation rising by $25.1 billion Tesla, the electric car company gained by 20 percent.

Tesla gained as Investors are heading towards the company due to reports that the electric vehicle industry is expected to grow into a $5 trillion market over the next decade, thereby making it the world’s most valuable car company.

The most recent price action reveals Tesla share price gained almost 20 percent, nearly wiping out five straight days of selling.

Tesla sold 18,318 Model 3s and Model Ys made at its Shanghai vehicle plant in China, according to CPCA data. (Of that, 13,688 were Model 3s.) Those robust sales came despite a Chinese New Year holiday from February 11th to February 17th that disrupted the business ecosystem in the world’s biggest car market.

The 49-year-old billionaire, Elon Musk who only has 20% of Tesla, now has a wealth valuation of $174 billion.