Elon Musk increased his net worth by $30 billion in a single day after declaring “Tesla will become the most powerful company in the world”

Although Tesla's recent quarterly results were mixed, they delivered a crucial element that investors had been eagerly awaiting: profit. The electric vehicle giant posted its biggest quarterly profit since mid-2023, a rebound after four straight quarters of disappointing profits. This came despite missing revenue expectations, which many had feared would continue to drag the company into the ground. However, the optimism was fueled by Musk's confident predictions during the earnings call, in which he announced that Tesla could see vehicle sales growth of 20% to 30% in the coming year.

But the real surprise came in Musk's declaration that Tesla's long-awaited Cybertruck had finally reached profitability for the first time in its quarterly sales – a milestone that investors took as a sign of the company's ability to innovate out of production problems.

Musk's personal wealth gain – $30 billion in one day – was his third-largest single-day gain ever. He increased his fortune to $270.3 billion, widening the gap between him and the world's second-richest man, Jeff Bezos, by $61 billion. Tesla's shares, which account for three-quarters of Musk's net worth, have been the driving force behind his extraordinary financial rise, although his holdings in SpaceX, social media platform X and AI company xAI have also contributed.

On the conference call with analysts, Musk made clear his vision for Tesla's future: dominance in the electric vehicle market and beyond.

“My prediction is that Tesla will become the most valuable company in the world, probably by a wide margin,” Musk said.

Tesla's push into autonomous driving is central to its future strategy. Musk announced plans to launch “Cybercab” robotaxis as early as 2026, with production targets in the millions of dollars per year. He added that regulatory hurdles remain a challenge but expressed confidence that Tesla will lead the autonomous revolution.

However, Musk's optimistic outlook brings with it questions. One of them is the ongoing delay of the Tesla Roadster, an improved version of its original sports car. The production schedule for the Roadster, first announced in 2017, has been pushed back repeatedly, and Musk now claims it is “close” to completion. He hinted that the release, when it comes, will be “spectacular.”

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