It has been reported that $13 billion rise came as Tesla’s stock price experienced a surge in early trading Wednesday morning, rising by 12.7% to $283.24 as of 9:40 a.m. ET from the previous day’s closing price of $251.44.
Musk owns over 411 million shares in Tesla—about 13 percent of the company’s outstanding common stock—making him the largest individual shareholder.
Musk also has large stakes in social media platform X, formerly Twitter, and space technology company SpaceX. According to the Forbes real-time billionaires list, Musk’s net worth was most recently calculated at $285.2 billion.
