How Hertz pushed Elon Musk's personal fortune to Rs 2.71 lakh cr

How Hertz pushed Elon Musk's personal fortune to Rs 2.71 lakh cr

FPJ Web DeskUpdated: Tuesday, October 26, 2021, 03:10 PM IST
article-image
Hertz, the car rental company, placed an order for 100,000 Tesla cars. What this one order did was boost the which pushed up the company's shares by as much as 14.9 per cent to $1,045.02, and took Musk's 23 per cent stake Tesla to $289 billion/ Representative Image |

This is the dream wish of many entrepreneurs. Just one order turning the future of the company and its entrepreneur. Elon Musk's personal fortune skyrocketed by $36.2 billion - or Rs 2.71 lakh crore on the basis of one order. Hertz, the car rental company, placed an order for 100,000 Tesla cars. What this one order did was boost the which pushed up the company's shares by as much as 14.9 per cent to $1,045.02, and took Musk's 23 per cent stake Tesla to $289 billion. That stake includes options worth over $50 billion that have vested under Musk's 2018 compensation package.

Tesla hit a record high last week after Elon Musk’s company reported earnings that beat Wall Street estimates, wrapping up a ninth-straight quarter of profit as the 18-year-old electric-vehicle maker outperforms rivals battling a dearth of semiconductors crucial for production, according to Bloomberg

RECENT STORIES

'Gutter Snan' For Aman Gupta; Instagram User Calls Him 'Fraud', Alleges Financial Irregularities...

'Gutter Snan' For Aman Gupta; Instagram User Calls Him 'Fraud', Alleges Financial Irregularities...

GST Reduction To Cut Consumer Price Index Inflation By 25 Basis Points, Could Reduce 35 BSP: SBI...

GST Reduction To Cut Consumer Price Index Inflation By 25 Basis Points, Could Reduce 35 BSP: SBI...

Government-Supported AIFs Invest ₹2,839 Crore In 154 Women-Led Startups

Government-Supported AIFs Invest ₹2,839 Crore In 154 Women-Led Startups

Insurance Laws Amendment Bill, 2025, Which Raised FDI Limit To 100%, Will Attract Capital & Support...

Insurance Laws Amendment Bill, 2025, Which Raised FDI Limit To 100%, Will Attract Capital & Support...

India Remains A Bright Spot Amid Global Uncertainty, With Robust 6.5% Growth Rate & Strong Domestic...

India Remains A Bright Spot Amid Global Uncertainty, With Robust 6.5% Growth Rate & Strong Domestic...