Elon Musk's Tesla shares surge again after US President Donald Trump announces...; net worth climbs to Rs...

Elon Musk, the world’s richest person, recently lost about USD 27 billion after his feud with US President Donald Trump. The Tesla CEO taunted Trump, saying he wouldn’t have won the election without his help. After this, shares of the EV firm Tesla declined significantly, which impacted the net worth of the tech billionaire. Now, the shares of Tesla have gained momentum again after President Trump refuted rumours that he is planning to give away the Model S Tesla that he brought to promote Musk's business.

Trump said he is keeping his red Model S Tesla despite his recent feud with Elon Musk, but it might not stay at the White House, where the electric car has been parked since he bought it, reports suggest. Trump said he might “move it around” to a different location instead. Meanwhile, Musk said he regrets some of the social media posts he made about US Trump last week. "I regret some of my posts about President Donald Trump last week. They went too far," he tweeted.

Tesla shares rise over 5%

Shares of Tesla were trading at USD 326.09 on Wednesday with over 5 per cent gain. The market cap of the firm stands at USD 1.02 trillion as of June 11.

Elon Musk's net worth

Musk continues to be the richest man in the world. According to the Bloomberg Billionaires Index, he has a net worth of USD 369 billion or Rs 3154466 crore. He owns about 12 per cent of Tesla, excluding options. Musk co-founded seven companies, including electric car maker Tesla, rocket producer SpaceX and artificial intelligence startup xAI. He also owns X, formerly Twitter.

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