Elon Musk's Net Worth Rises To US$9.7 Billion After Tesla's Stocks Soar On Q4 Profits

tesla (select to view enlarged photo)
2014 Tesla Model S

NEW YORK--Feb. 20, 2014: Tesla Motors Inc founder and CEO Elon Musk's net worth rose by 7.8% to US$9.7 billion after stocks of the electric car company jumped 12.6% in extended trading following the announcement of its fourth-quarter and full-year financial results on Wednesday.

The Palo Alto, California-based company reported better-than-expected numbers and said it expects to sell more than 35,000 Model S electric sedans in 2014, a 55% increase over last year.

Shares surged by 12.6% to US$218 in extended trade following the announcement. A day earlier, the stock shot to an all-time high after media reported that Musk met with Apple Inc's head of mergers and acquisitions in 2013.

Musk, the South African-born billionaire entrepreneur, founded Tesla in 2003. The company's first car, the Tesla Roadster, entered general production in March 2008, followed by two new models in July 2009 and July 2010. Musk made his first fortune as a co-founder of PayPal, the international payments and money transfer business, and went on to set up Tesla and SpaceX, a space transport services company.

Musk's net worth was calculated after accounting for his shares in public and private companies, residential and passion investments such as art, planes and real estate, and is based on the most recent publicly available disclosure of his shares and options in Tesla.

Home | Buyers Guides For Every Auto Make | New Car Buyers Guide | Used Car Super Search | Total New Car Costs | 2016-1993 Car Reviews Truck Reviews
1996-2016 Automotive News | TACH-TV | Media Library | Discount Auto Parts

Copyright © 1996-2016 The Auto Channel. Contact Information, Credits, and Terms of Use. These following titles and media identification are Trademarks owned by The Auto Channel, LLC and have been in continuous use since 1987 : The Auto Channel, Auto Channel and TACH all have been in continuous use world wide since 1987, in Print, TV, Radio, Home Video, Newsletters, On-line, and other interactive media; all rights are reserved and infringement will be acted upon with force.

Privacy Statement | Size Does Matter | Media Kit | XML SITE MAP | Affiliates

Send your questions, comments, and suggestions to Editor-in-Chief@theautochannel.com.

Submit Company releases or Product News stories to submit@theautochannel.com.
Place copy in body of email, NO attachments please.

To report errors and other problems with this page, please use this form.

Link to this page: http://www.theautochannel.com/