The world’s richest human has found himself a tidy $26 billion richer in a single day following Tesla Inc (NASDAQ:TSLA)’s gigantic 22% share price rally on Thursday.
Tesla added around $180 billion to its valuation following the rally, which was spurred on by the electric vehicle giant’s third-quarter profit beat and bullish mid-term growth forecasts.
According to Forbes’ real-time billionaires tracker, this added $26.4 billion to Elon Musk’s personal worth.
Musk owns around 12% of Tesla’s shares excluding options, according to Forbes. Around half of these shares are put up as collateral on $3.5 billion worth of personal loans.
Tesla’s valuation has struggled this year, reflecting a global downturn in EV demand.
Following the Thursday rally, Tesla is now up nearly 4% year to date, although this is drastically behind its counterparts in the so-called ‘Magnificent Seven’ megacap US tech stocks.
Nvidia Corp, for instance, is up more than 190%, while Microsoft Corp (NASDAQ:MSFT) is up more than 50%.