The pop came after four straight quarters of disappointing earnings for the world’s largest electric-vehicle manufacturer, which has struggled amid slowing consumer demand.
Elon Musk added US$33.5 billion ($44.22 billion) to his net worth Thursday as Tesla shares posted their biggest gain in more than a decade, extending the world’s richest man’s lead atop the Bloomberg Billionaires Index.
Shares ended the day up 22% and turned positive for the year after the automaker reported its largest quarterly profit since the summer of 2023. Musk forecast as much as 30% growth in vehicle sales next year on a webcast following the release, and announced that the Cybertruck generated a quarterly profit for the first time.
