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Cryptopolitan 2025-06-24 16:02:19

Musk gains $19B as Tesla debuts robotaxi in Austin

Musk gains $19B as Tesla debuts robotaxi in Austin

Elon Musk’s net worth jumped by $19 billion on Monday, making him the day’s top gainer after Tesla launched its long-awaited robotaxi service in Austin. On Sunday, Tesla opened its self-driving taxi service in Austin to a limited number of riders, charging a flat fee of $4.20 per trip. Although employees accompanied each ride for safety, the service, years in the making and heavily promoted by Musk, boosted Tesla’s shares. Tesla’s stock climbed as much as 11% in Monday trading before closing up 8% at $348.68, cutting its losses for the year to just under 7%. That single-day surge added $19 billion to Musk’s fortune according to Bloomberg’s Billionaire Index , raising his net worth to about $385 billion and helping offset a $47.5 billion decline since the start of 2025. Source: Bloomberg’s Billionaire Index By Tuesday morning, Musk’s wealth outstripped Meta’s Mark Zuckerberg by $139 billion and surpassed Amazon founder Jeff Bezos by $155 billion. In a post on X on Sunday, Musk praised Tesla’s internal AI and chip design teams, calling the launch the “culmination of a decade of hard work.” Still, analysts urged caution. In a Monday note, UBS raised its price target on Tesla shares by $25 to $215 but kept a “Sell” rating, warning that much of the robotaxi optimism may already be priced in. Other experts warn Tesla faces major hurdles in safety, infrastructure, sensor performance, and real-world operations. Tesla faces scrutiny on robotaxi safety The National Highway Traffic Safety Administration has asked Tesla for more information after viewing online videos that appeared to show a robotaxi in the wrong lane and another one speeding. The safety agency said it is “aware of the referenced incidents and is in contact with the manufacturer to gather additional information”, as mentioned in a Reuters report . NHTSA routinely seeks data from automakers when advanced driver assistance or automated driving systems display questionable behavior. Tesla said it would avoid bad weather and tricky intersections and would not carry any riders under 18 for robotaxi rides. NHTSA noted that it does not pre-approve new technologies or vehicle systems. Instead, manufacturers certify that each vehicle meets safety standards, and the agency investigates possible defects. Tesla has told NHTSA that its safety reports on the Texas robotaxi rollout, including how it performs in bad weather, are confidential and shouldn’t be made public. NHTSA is now reviewing those responses. Since October, the agency has been investigating crashes involving Tesla’s Full Self-Driving cars in low-visibility conditions. That probe covers about 2.4 million vehicles, prompted by four non-fatal crashes and one fatal crash in 2023. KEY Difference Wire : the secret tool crypto projects use to get guaranteed media coverage

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