Milestone

Elon Musk Sets A New Milestone - Gains $25 Billion In Just One Day

Elon Musk: On Tuesday, Tesla also benefited from an upgrade by New Street Research analyst Pierre Ferragu, who recommended buying the stock, and a rally in Bitcoin.

Elon Musk Sets A New Milestone - Gains $25 Billion In Just One Day

Elon Musk just hit a new milestone: He made a record $25 billion in one day.

Elon Musk just hit a new milestone: He made a record $25 billion in one day. Tesla Inc.'s 20% jump on Tuesday -- its biggest in more than a year -- pushed the billionaire founder's fortune to $174 billion, closing the gap with Jeff Bezos, the world's richest person, according to the Bloomberg Billionaires Index. The top 10 largest wealth gainers, all from the tech industry, added $54 billion combined.

After three weeks of declines that sent the Nasdaq 100 Index down 11% from a peak, U.S. tech shares staged a stellar rally on Tuesday that lifted almost all of the gauge's members. The surge in Bezos's Amazon.com Inc. helped him gain $6 billion, taking his net worth to $180 billion, while Colin Huang of Chinese online shopping platform Pinduoduo Inc. added almost as much.

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Musk and Bezos have been battling for the top spot on the Bloomberg wealth index since the Tesla founder took over in January, the month his fortune hit $210 billion. Since then, Bezos regained the title of world's richest as shares of the electric-car maker sank as much as 36%. Now the two tycoons are less than $6 billion apart.