Watan-Tesla shares gained more than $82 billion during yesterday’s Monday trading session, resulting in a $16.8 billion increase in Elon Musk’s wealth, as his stake in the company amounts to 20.5% of its shares.
According to Bloomberg’s Billionaires Index, Elon Musk made $37 billion in just 5 days, surpassing Meta’s Mark Zuckerberg as his net worth rose to $201.5 billion.
This marks Elon Musk’s largest weekly gain since March 2022, before his agreement to purchase Twitter for $44 billion in one of the largest acquisition deals in history.
Since then, Musk’s wealth has declined by the same amount it rose after a remarkable surge in 2020 and 2021.
Elon Musk lost his title as the world’s richest person and fell to fourth place just a few weeks ago. However, he is now approaching the possibility of reclaiming his lost title, with his wealth estimated to reach around $200 billion, trailing Bernard Arnault and Jeff Bezos by approximately $2 billion.
Tesla is the third-largest company where investors are betting on a decline in its stock and hold short positions in the United States, after Nvidia and Microsoft.
The total value of shorted shares in Tesla is $18.53 billion, or 3.97% of its shares.
The company’s plan, led by Elon Musk, to introduce cheaper models has alleviated some concerns about its growth slowdown.
This comes after a turbulent week characterized by large-scale layoffs, executive departures, and price cuts.