It Only Happens to Elon Musk: Imagine Waking Up, Looking at Your Phone, and Discovering That Your Fortune Increased by Over $30 Billion While You Were Asleep

Written by Rafaela Fabris

Published on 25/10/2024 at 14:12

Ações da Tesla disparam 22% e levam patrimônio de Musk a recorde de US$ 270 bilhões (Imagem: Reprodução)

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The breathtaking jump in Elon Musk’s wealth came after a 22% gain in Tesla’s stock, his electric car manufacturer, driven by surprising financial results in the third quarter. This was the largest daily increase in Tesla’s stock in over 11 years, since May 2013. Consequently, the company’s market capitalization also gained momentum, rising to US$ 832.14 billion, an increase of about US$ 50 billion in market value.

Tesla’s recent achievements are attributed to a record quarterly profit, resulting from a combination of factors, including the success of the Cybertruck model, which generated profit for the first time, reduced material costs, expansion in the energy business, and the strategic sale of carbon emission credits.

This latest initiative continues to be a profitable source for Tesla, which offers these credits to other automakers facing difficulties meeting environmental limits. “We are projecting a growth of between 20% and 30% next year,” Musk stated in a live broadcast after the financial results were announced, further increasing investors’ optimism.

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Elon Musk Bets on Technology and Tesla’s Future

The soaring growth in Tesla’s stock occurred after a challenging period for the company, which had reported low profits in the previous four quarters due to reduced consumer demand.

Now, with the promise of new affordable models and an increase in sales for 2025, Elon Musk shows that he is heavily betting on Tesla’s future. He abandoned plans for a more economical vehicle than the Model 3, directing the company’s resources and efforts toward full autonomy, which Musk considers the key to the automaker’s long-term success.

Investor Reaction and Optimistic Outlooks

Gene Munster, managing partner at investment firm Deepwater Asset Management, commented on the excitement generated by the new numbers: “Investors who wanted something concrete for now have been satisfied with a profit above expectations and a strong growth projection for future deliveries.”

This combination of solid results and optimistic guidance for 2024 and 2025 has allowed Tesla to regain market favoritism, and with that, the richest man in the world, Elon Musk, saw his fortune soar to unprecedented levels.

Thus, the technology and futuristic vision magnate ends the day not only as the richest man in the world but also as the executive behind one of the most impactful financial leaps of the decade.

It Only Happens to Elon Musk: Imagine Waking Up, Looking at Your Phone, and Discovering That Your Fortune Increased by Over $30 Billion While You Were Asleep

Elon Musk Bets on Technology and Tesla’s Future

Investor Reaction and Optimistic Outlooks

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It Only Happens to Elon Musk: Imagine Waking Up, Looking at Your Phone, and Discovering That Your Fortune Increased by Over $30 Billion While You Were Asleep

Elon Musk Bets on Technology and Tesla’s Future

Investor Reaction and Optimistic Outlooks

Elon Musk’s internet comes to mobile: Starlink technology connects smartphones without an antenna via satellite, works even without carrier signal, already costs just US$10 extra in the US, and could arrive in Brazil as an included benefit.

Seven world powers including the US, China, and Russia are spending €22 billion on a reactor in the south of France that aims to confine plasma at 150 million degrees Celsius, ten times the temperature of the Sun’s core, using a magnetic field capable of lifting an entire aircraft carrier.

A Chinese factory in Guangdong is assembling a humanoid robot every 30 minutes while Tesla, Figure, and Boston Dynamics still struggle to deliver 10 thousand per year.

While Brazil has been discussing bullet trains for 16 years, China delivers 5 new high-speed lines in 2026, surpasses 50,000 km of HSR, and moves 1 billion passengers in a single year.

With a wingspan of 152 meters, 76 tires, and a capacity to carry 1,270 tons, the Boeing Pelican was the giant “flying ship” that promised to cross oceans close to the water on an invisible air cushion beneath its wings.

In Niger, mud buildings have stood for ten generations while the world spends billions on concrete and steel, now African architects are proving at the Venice Biennale and in real projects that red earth can be the smartest and most sustainable building material of the 21st century.

Belgium will sink 23 giant concrete caissons, each weighing 22,000 tons, in the North Sea to build the world’s first artificial energy island 45 km off the coast, forming offshore electrical walls.

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