Hyperdrive

Musk Needs Just 61 Characters to Lift Wealth by $1.4 Billion

Tesla shares climb 11% after CEO tweets about going private
Saudi Arabia investment fund said to build stake in carmaker

Bloomberg’s Keith Naughton reports on Musk’s tweet.(Source: Bloomberg)

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By Tom Metcalf and Anders Melin

August 7, 2018 at 5:49 PM UTC

Updated on

August 7, 2018 at 8:30 PM UTC

This article is for subscribers only.

Elon Musk added $1.4 billion to his fortune Tuesday with a single tweet.

Shares in Tesla Inc. climbed 11 percent to $379.57 at 4 p.m. in New York, taking Musk’s fortune to $25.8 billion after he said he’s considering taking the electric-carmaker private at $420 a share.