Over the weekend, the news that the world's richest man, Tesla (TSLA, stock price: US$389.220; total market value: US$1.249 trillion) CEO Musk's net worth has soared, attracted the attention of many media and netizens. On Friday, Tesla's stock price surged by more than 5%, and its cumulative increase this year has exceeded 56%, with its market value rising to US$1.25 trillion. As Tesla's stock price soars, Musk's net worth has also reached a new milestone.
The Bloomberg Billionaires Index shows that as of Friday's close, Musk's worth (net worth) was approximately US$362 billion, an increase of US$133 billion this year, making him the richest person with the largest increase in wealth this year.
Some analysts pointed out that Musk has placed all his bets on Trump's victory, so it is understandable why the market will regard Tesla as a beneficiary. Especially under the Trump administration, regulatory relief could be provided for Tesla. Recently, investment banks Stifel and Bank of America have both raised their target prices for Tesla.
On Friday, Tesla's stock price rose 5.34% to close at $389.22, with a market value of $1.25 trillion. Since the beginning of this year, Tesla has risen by 56.6%. As Tesla's stock price soars, the company's CEO Musk's net worth has also reached a new milestone.
Musk is also the richest person with the largest increase in wealth this year, followed by Meta CEO Mark Zuckerberg, whose net worth has increased by US$87.3 billion this year to US$215 billion, ranking third on the rich list.
In addition, Nvidia CEO Jen-Hsun Huang’s wealth increased by US$82.6 billion this year, second only to Musk and Zuckerberg. Huang’s latest net worth is US$127 billion, currently ranking 11th on the rich list.
Currently, there are 17 billionaires on the Bloomberg Billionaires Index with wealth exceeding US$100 billion, 10 of whom are American technology tycoons.
On Thursday (December 5), Bank of America significantly raised Tesla's 12-month target price from $350 to $400 and maintained a buy rating. This optimism stems from the investment bank's new focus on Tesla's robotics and artificial intelligence.
In a note to clients on Thursday, analyst John Murphy underscored his optimism after a recent visit to Tesla's Gigafactory in Austin, Texas. He believes Tesla has the ability to strike a balance between maintaining strong growth in electric vehicles and making bold investments in autonomous driving and robotics.
When it comes to Tesla’s fully autonomous driving technology (FSD), Murphy believes that the test drive process reflects significant improvements in the vehicle. Murphy also described the performance of the Cybertruck and Model Y they rode in complex road conditions, calling the process "seamless" and "successful."
Murphy also noted that minimal intervention from Tesla's FSD technology may only be needed once every 10,000 miles, stressing that the technology is already approaching the level of safety required for robotaxi services.
Talking about Tesla’s humanoid robot Optimus, Murphy believes that it has made great progress in automation.
While Optimus currently accounts for only a single-digit percentage of Tesla's AI computing power, Murphy expects that percentage to increase as the self-driving taxi program stabilizes, accelerating Optimus' development.
He added, "As more robots come into use, training will accelerate, and mass production in 2026 and beyond may reduce costs and open up new avenues for growth for Tesla."
Additionally, Murphy highlighted Tesla's growing artificial intelligence infrastructure, which as of October contained 50,000 active Nvidia H100 chips. This makes it more likely that the company will launch a robotaxi service in 2025.