Bloomberg estimates that, year-to-date, Musk's net worth has rocketed by $62.8 billion. On Monday alone, Tesla stock surged by 11 percent, bumping Musk's worth up by nearly $8 billion.
According to the Institute for Policy Studies, Elon Musk has profited from the pandemic in a more extreme way than his peers. The think tank approximates that his wealth tripled from $24.6 billion on March 18th to $73 billion on August 13, an increase of $48.5 billion or 197 percent.
The variable nature of the stock has meant that Musk's worth fluctuates. Even the billionaire has called into question valuations from the market saying in May that the price of Tesla stock is"too high."Despite this, investors and analysts have still been bullish. In January, Catharine Wood of Ark Invest moved her price target from $6,000 to $7,000 on Tesla.
A note written by by Sam Korus for Ark Invest on January 31 said:"A fully autonomous taxi network could break the mold of a traditional automotive manufacturer's business model completely. In a note dated July 23, J.P. Morgan's Head of U.S. Autos Research Ryan Brinkman said:"Despite the modestly better 2Q, TSLA shares still highly overvalued, as evidenced by comparisons to industry leaders Toyota & VW which are together valued less than Tesla."
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