Tesla Makes a Leap in Market Value to $1.25 Trillion, Musk’s Wealth Increases
Tesla’s stock surged during last week’s trading, solidifying its position among the world’s largest companies
by market value, reaching $1.25 trillion and setting a new record.
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Tesla
The stock of Tesla, led by billionaire Elon Musk,
closed with a 5.35% increase at $389.22 per share,
marking the highest closing price since January 3, 2022, when it reached $399.93.
With this rise, Tesla’s market value again surpassed the $1.2 trillion threshold,
reaching $1.249 trillion at the end of trading, breaking its previous record of $1.235 trillion on November 4, 2021.
These gains boosted Musk’s wealth by 3.25%, equivalent to $11.1 billion,
bringing his total fortune to $354.9 billion.
This solidifies his position at the top of Forbes’ list of the world’s richest people,
widening the gap between him and second-place billionaire Jeff Bezos to $114.1 billion.
Japan
Japanese Stocks Rise on Interest Rate Hike Expectations and Yen Weakness
Japanese stocks ended Monday’s trading on a high note,
supported by expectations that the Bank of Japan
during its December meeting, interest rates will be raised following
an upward revision of third-quarter economic growth data,
alongside the yen’s decline against the dollar.
The Nikkei Index rose by 0.18%, equivalent to 69 points, closing at 39,160 points,
while the broader Topix Index climbed 0.27% to reach 2,734 points.
Cabinet Office data showed that Japan’s GDP grew by 1.2% annually in the second reading for Q3,
compared to 0.9% in the initial estimate,
increasing the likelihood of the Bank of Japan continuing
its monetary tightening at its next meeting on December 18–19.
However, private consumption data was revised lower, showing a 0.7% increase compared to the previous 0.9%.
Support for Japanese stocks also came from the dollar’s 0.1% rise against the yen,
reaching 150.15 yen.
However, the semiconductor sector underperformed,
limiting market gains.
Advantest shares dropped 4.71% to close at 8,400 yen,
marking the deepest loss among Nikkei stocks, following e-commerce firm Zozo, which fell by 5%.
Tesla Makes a Leap in Market Value to $1.25 Trillion, Musk’s Wealth Increases