Elon Musk’s net worth jumped $1.7 billion as Tesla becomes the world’s second most valuable automaker
Tesla’s market cap hit $100 billion on Wednesday, speeding past Volkswagen, which currently sits at $88 billion. Tesla shares surged 16% in the week through January 23, increasing Elon Musk’s net worth by $1.7 billion to $32 billion.
Musk’s fortune has surged by more than $10 billion since The Forbes 400 list of richest Americans was published in October. If Tesla can sustain its $100 billion market cap, Musk stands to get even richer, thanks to aTesla shares have more than doubled since October and are up more than 30% this year — and it’s still only January. Tesla surpassed Ford and GM in market capitalization earlier this month. The only carmaker still ahead of Tesla is Toyota, with a market cap of $233 billion.
Wall Street analysts are far less enthusiastic about Tesla than investors. Out of a group of 37 analysts tracked by Bloomberg, 17 have issued sell ratings, 11 have issued holds and only nine have issued buys. Analyst consensus is far more positive for Volkswagen; out of 22 analysts, all but three have issued buys.
“Should investors be currently assuming that Tesla’s global operations will grow to be as large and profitable as Volkswagen’s?” Brinkman wrote in a research note. “Perhaps another conjecture could be that investors expect Tesla will grow to be only half as large but with twice the margin as Volkswagen. Or one-third the size with 3x the margin. Any of these assumptions seems to us highly speculative.
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