Let me preface this article by saying that I have the flu. I was planning to stay in bed all day and not write any articles. But then Tesla’s share price ripped up 6% today. With that increase, Elon Musk’s net worth is $475 billion (as of this writing, 3:30 pm PST on Monday). That’s a $25 billion increase from the $450 billion he ended last week with.
To give you a bit of context, before the election, Tesla’s stock price was trading at around $250 a share. On Monday, Tesla closed at an all-time high of $463. It’s actually at $472 in after-hours trading. As you probably know, Elon was one of Donald Trump’s most generous and vocal supporters. The general assumption is that with Trump’s win, Elon, Tesla, and SpaceX are bulletproof.
And just for full disclosure, I personally got caught up in the hype on November 11 when I purchased some shares of Tesla for a retirement account. I paid $349 a share. I’m feeling very good right now, but that wasn’t always the case. In the days immediately after I bought the shares, Tesla’s stock price dropped to $330, and I felt like a total mindless lemming who got swept up in a bunch of hype and bought an obvious bubble at the tippy top. Who knows what happens next? Who knows. Maybe Elon and Trump will have a huge falling out, and all of his companies will be confiscated by the government. Or maybe Tesla is going to continue its upward march. If that happens, there’s a decent chance that Elon will become a half-trillionaire tomorrow. He’s only $25 billion away. He added $25 billion today and $200 billion since late October! Let me say that again. Elon may become a half-trillionaire tomorrow. He is already the richest person in history, the first person to have a net worth break $300 billion without adjusting for inflation. He’s the first $400 billionaire. The first $450 billion. And soon may be the first half-trillionaire. Madness.
(Photo by Anna Moneymaker/Getty Images)
Before I slink back into bed…
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