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Week's Tesla Stock Rally Puts Elon Musk Back Firmly In $200B Club



© Reuters. Week’s Tesla Stock Rally Puts Elon Musk Back Firmly In $200B Club

Tesla, Inc. (: TSLA) stock rallied in the week ending May 27 after finding itself at a 10-month low in the previous week.

On Tuesday, when Tesla hit an intraday low of $620.57 and closed at $682.16, Tesla chief executive officer Elon Musk’s net worth dropped below $200 billion for the first time since late February.

However, Musk’s fortunes began to rise with the stock’s rally in the second half of the week. The stock added about 4.9% on Wednesday before ending at $658.90. It rose another 7.4% on Thursday and 7.3% on Friday before ending the week at $759.63, according to Benzinga Pro data.

Related Link: Tesla Stock Gets Another Price Target (NYSE:) Cut — This Time From Jefferies

For the week, Tesla stock added 14.4%.

Following the rally, Musk’s net worth has once again breached the $200 billion level. Amazon, Inc. (NASDAQ: NASDAQ:) CEO Jeff Bezos is the second-wealthiest person with a net worth of $139 billion.

Photo: Created with an image from TED Conference on Flickr

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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