Breaking news

Elon Musk’s Wealth Increased In A Day By More Than 26 billion Dollars

The world’s richest man just got a whole lot richer after Tesla CEO Elon Musk enjoyed a historic rally in Tesla shares, fueled by the electric vehicle company’s latest earnings report.

KEY FACTS

  • Tesla’s stock price jumped about 22% in trading on Thursday, its biggest daily gain since May 9, 2013.
  • It came as investors reacted positively to a big third-quarter earnings growth, the biggest cash generation in eight quarters, and several encouraging details shared by Musk on the accompanying conference call with analysts.
  • The earnings report “reminds us that growing the auto business profitably remains a high priority for Tesla,” Morgan Stanley analyst Adam Jonas wrote, alluding to earlier concerns about Tesla’s shrinking profit margins as it emphasizes self-driving car initiatives.

FORBES ASSESSMENT

The rally added $26.4 billion to the fortune of Tesla’s largest shareholder Musk, whose lead as the richest person alive grew to more than $55 billion. Musk owns 269.8 billion dollars, and the second in the ranking – Larry Ellison has a fortune of 212.2 billion dollars.

BIG NUMBER

150 billion dollars. Tesla added roughly that much market capitalization on Thursday. The rally turned the stock’s year-to-date performance from a 14% loss to a nearly 5% gain.

Cypriots Celebrate Tsiknopempti With Record-High Meat Consumption

Record Demand For Grilled Meats

In a striking display of culinary tradition, Cypriots celebrated Tsiknopempti with an explosive surge in meat consumption, particularly favoring pork souvlaki, ribs, and sausages. According to Costas Leivadoti, President of Meat Retailers, demand doubled compared to an ordinary day, especially for products ideal for grilling.

Consumer Preferences And Market Trends

Most shoppers gravitated toward familiar, easy-to-cook options such as sausages, ribs, steaks, and especially pork souvlaki, a pattern that has remained consistent in recent years. Purchasing activity began intensifying from Wednesday afternoon and continued into the early hours of Thursday, keeping butcher shops busy throughout the day. Indicative prices placed pork souvlaki at around €6 per kilogram, with volumes significantly higher than seasonal averages.

Business Booms Beyond The Home

Heightened demand was also evident across the hospitality sector. Restaurants, taverns, and grill houses reported strong reservations, takeaway orders, and bookings. Several venues reached capacity or sold out of key menu items by midday, underscoring Tsiknopempti’s importance as one of the most profitable days of the year for food service businesses in Cyprus. Fanos Leventis, General Manager of the Owners Association of Leisure Centers, compared the day’s turnover to an additional weekend peak.

Diverse Celebratory Choices

While many adhered to the customary meat feast, some citizens opted for alternative culinary celebrations. The Animal Party (Κόμμα για τα Ζώα), in a public statement, encouraged adopting a plant-based approach by choosing vegetables, legumes, and other non-animal products. This suggestion adds an intriguing dimension to the cultural and commercial landscape of Tsiknopempti.

Maintaining Tradition Amid Changing Tastes

Alongside grilled meats, customary side dishes and sweets continued to feature prominently on festive tables. Local bakeries and specialty confectioners reported steady demand for both savory and sweet treats that traditionally accompany Tsiknopempti gatherings. Together, these elements highlight how the celebration remains both a cultural cornerstone and a significant economic boost for retailers and hospitality businesses across Cyprus.

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