Tesla’s Robotaxi Launch Boosts Musk’s Fortune by $19B Amid Market Caution

Elon Musk's net worth surged by $19 billion following Tesla's limited debut of its robotaxi service in Austin. The company charged a flat fee of $4.20 per trip, with safety drivers accompanying each ride. Tesla's stock jumped 8% to $348.68, trimming its year-to-date losses to under 7%.

Bloomberg’s Billionaire Index now pegs Musk’s wealth at $385 billion, placing him $139 billion ahead of Meta’s Mark Zuckerberg and $155 billion above Amazon’s Jeff Bezos. Musk credited Tesla’s AI and chip teams in a Sunday post on X, calling the launch a decade-long achievement.

Analysts remain skeptical. UBS raised its Tesla price target by $25 to $215 but maintained a 'Sell' rating, warning that robotaxi Optimism may already be priced in. Safety concerns persist, with the NHTSA requesting additional information from Tesla.