The fortune of the world’s richest person, Elon Musk, soared by $14.5 million last Tuesday.
Shares of his electric vehicle maker rose by 9.4%, outpacing Nasdaq’s 2.4% rebound from an earlier decline.
Musk has reiterated his concerns about a recession and the need to downsize.
However, his investors seem more interested in clearing supply constraints which is the “main obstacle” to their demand.
Elon Musk has been the world’s richest person since January 2021, having a net worth of over $200 billion.