Tesla, Inc. shares have been on an upward trajectory since bottoming in mid-May. Tesla Shares Hit Top Speed: The stock rally has been accelerating in recent sessions, thanks to strong deliveries reported by the EV maker for the September quarter that has triggered expectations for strong results for the quarter and also sent CEO Elon Musk's net worth soaring.
As of Friday morning, Musk's network was at $236 billion, according to the Bloomberg Billionaires Index. At the same time, the combined net worth of Microsoft Corporation MSFT founder Bill Gates and billionaire investor Warren Buffett stood at $233 billion.
Thus Musk has edged out the combined net worth of these stalwarts, each of whom had earlier held the coveted distinction of being the world's riches person. Now, Gates is placed fourth behind Amazon, Inc. AMZN's Jeff Bezoz and Bernard Arnault, the Chairman and CEO of LVMH Moet Hennessy Louis Vuitton SA LVMUY. Buffett is now relegated to the tenth place in the list of billionaires.
Related Link: Elon Musk Says SpaceX In Talks To Install Starlink Broadband On Airlines
Musk's Recommendation For Buffett:When the fact was brought to the attention of a twitter handle that goes by the name @TrungTPhan, Musk has a piece of advice for Buffett. Musk suggested that the billionaire investor should be investing in Tesla.
— Trung Phan οΏ½ (@TrungTPhan) October 17, 2021
Recently, Jefferies analyst Philippe Houchois maintained a Buy rating on Tesla shares and raised the price target from $850 to $950. Following further analysis of Tesla's third-quarter deliveries data and the information gleaned from various sources at the soon-to-be launched Berlin facility, Jefferies raised its 2022-23 revenue estimates by 6% and EBIT estimates by 9%-7%, the analyst said.
The revision is premised on a higher capacity ramp and sustained demand, the analyst said. Tesla shares ended Friday's session up 3.02% at $843.03, and has posted a weekly gain of 7.3%.
Related Link: Why Tesla's Update To Autopilot Software Is Being Questioned By Federal Traffic Safety Regulator
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