Elon Musk’s Net Worth $11.5 Billion Up This Week Amid Soaring Tech Stocks

Quite a few of tech mavericks have enjoyed rises in their revenues over the past few days, as Wall Street bulls predicted a lucrative time for the tech market.

Tesla founder and chief executive, Elon Musk, has been the biggest Wall Street gainer this week, getting a boost of $11.5 billion, with Tesla shares going up 7.4 percent in the wake of higher earnings reports and bullish predictions from stock market analysts, Forbes wrote.

The e-car company’s shares were given such a notable lift by Piper Sandler analyst Alexander Potter, who recently outlined a hefty $1,200 price target for them.

Google co-founders Sergey Brin and Larry Page likewise profited from the optimism, gaining $10.4 billion and $10 billion respectively, after Google parent company Alphabet enjoyed a successful week. Alphabet’s stock rocketed more than 14 percent this week after falling – by 3.4 percent – last week.

The company’s headway could reportedly be in part explained by its comeback into its digital advertising business, which was severely crippled during the coronavirus pandemic.

Amazon shares rose 4.6 percent this week after last week’s 2.7 percent dip, enabling Jeff Bezos adding as much as $7.7 billion to his net worth, despite announcing on Tuesday that he would quit as chief executive of the company, having led it for 26 years, and focus on his side businesses instead.

The pandemic has notably benefited the e-commerce giant to a great extent, as its stocks have risen by more than 63 percent in the past year, when customers increasingly turned to internet shopping at the time of lockdowns and quarantines.

Sourse: sputniknews.com