Musk's fortune exceeds $250 billion as Tesla shares rise - BBI

The fortune of head of Tesla Ilon Musk has exceeded the mark of $250 billion amid strong growth in the value of shares of the electric car manufacturer, follows the data of trading and index Bloomberg Billionaires Index (BBI), calculated by Bloomberg.
According to the index, Musk's fortune increased by $3.9 billion over the past 24 hours to $252 billion. The Tesla CEO remains in first place on Bloomberg's list of richest people. In second place is Amazon founder Jeff Bezos, whose wealth is $193 billion.
Tesla's stock price rose 1.75 percent to a record $909.68 at the close of trading on Friday. The company's shares continued to go up on Monday, rising 5.64% to $960.59 per security as of 5.20 p.m. Moscow time. Thus, Tesla's capitalization exceeded $900 billion.
Earlier, the company reported a record quarterly profit. At the end of the last quarter, Tesla's net profit rose 4.9 times year on year, to $1.62 billion, while revenue rose 1.6 times, to $13.76 billion.
Then also international rating agency S&P Global Ratings upgraded Tesla's issuer credit rating to "BB+" from "BB" with a positive outlook.
U.S. company Tesla Motors was founded in 2003 as a developer and manufacturer of electric cars and related technologies. The company is headquartered in Palo Alto, California. In addition to electric cars, the company produces batteries and electric motors with its own technology and sells to other car companies, in particular Toyota and Daimler.


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