Tesla CEO Elon Musk’s fortune has increased by $37.3 billion in the last five days. This is the biggest weekly profit for an American billionaire since March 2022, when Musk announced plans to buy Twitter for $44 billion.
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According to Bloomberg, Tesla shares showed their best performance in more than three years following the news of the entry of its autonomous driving system into the Chinese market.
On Monday, April 29, Musk’s fortune increased by $18.5 billion, rising to $201.5 billion. The value of Tesla shares increased by 17.76% during the day. According to the agency’s estimates, Elon Musk achieved the thirteenth daily capital gain in history.
Earlier this week, Bloomberg reported that the electric car maker had received approval from Chinese authorities to roll out its driver assistance system in the world’s largest car market.
Tesla has reached an agreement with the Chinese IT giant Baidu: the local search engine market leader will help Musk’s company in navigation and mapping.
Additionally, the American automaker managed to meet Chinese data security and privacy requirements.
Photo: Frédéric Legrand – COMEO / Shutterstock
Author:
Akhmed Sadulayev
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
