Tesla owner Elon Musk's net worth crosses $250 billion

New Delhi: Elon Musk, the world's richest man, has a net worth of $250 billion, as Tesla shares set new all-time highs. 

The shares of the electric vehicle manufacturer finished at roughly $910 per share, putting its market value beyond $900 billion for the first time. Musk owns more than 20% of Tesla, according to reports.

Tesla's stock hit a new all-time high extending gains after the electric vehicle maker reported another quarter of record sales and profitability.

At the start of the year, Musk owned a 22.4 percent share in Tesla, which is currently valued almost $201 billion. SpaceX, which was recently valued at $100 billion and is the world's second most valuable private firm, after TikTok parent ByteDance, accounts for the majority of Musk's remaining wealth.

Musk is thought to possess approximately 48% of SpaceX, assuming his share hasn't been diluted by recent investment rounds for the space exploration company.

Musk's net worth might rise even more when he earns more Tesla shares as part of his complex compensation plan, which gives him options based on profit, revenue, and market valuation milestones.