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Elon Musk adds $82.2B to net worth in 2020 after TSLA stock surge

Tesla CEO Elon Musk pay structure (Source: Tesla)

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Tesla CEO Elon Musk’s net worth has increased by over $82 billion in 2020 after a 480% increase in stock price so far this year.

Musk, who helped found Tesla in 2003, is the company’s largest shareholder, and as CEO, helps oversee the company’s day-to-day operations. 2020 has been especially rewarding for the South African-born CEO, who has helped the company establish itself as the electric vehicle tech leader by a considerable margin during the year.

With advancements in battery production, EV tech, and manufacturing techniques, Tesla has seen its share price explode from $86 to over $500 in just over eleven months. Tesla has also reported five consecutive profitable quarters, which has helped its performance on Wall Street.

As for Musk, his considerable wealth has already grown substantially this year. According to Forbes, Musk was worth $24.6B in April 2020, when a steady climb in price per share began and lasted until July. After a short drop in mid-August, TSLA shares once again skyrocketed until August 31st, when the automaker announced a 5:1 stock split to make shares more affordable for retail and younger investors.

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As a result of the split, TSLA has overtaken AAPL as millennial’s go-to stock, and the automaker has experienced overwhelming popularity among retail investors.

Musk’s proverbial climb up the World’s Richest list has been monumental, although it is important to highlight the fact that his worth has nothing to do with cash. The CEO doesn’t accept a paycheck from his employer, and under California Law, his minimum salary is left in a Tesla-owned bank account, which is untouched.

Musk’s net worth growth has inspired some politicians, like Bernie Sanders, to ask CEO’s with exponential growth in wealth throughout the year to pay a one-time tax. The bill, which would have required Musk, Amazon founder Jeff Bezos, Facebook CEO Mark Zuckerberg, and the Walton family to pay billions, was never passed.

Bernie Sanders wants Elon Musk to pay a one-time $27.5 billion tax

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Musk is set to, once again, surpass Zuckerberg on the list after the surge in stock price added $7.6 billion to his net worth over the past two days. Tesla stock has surged nearly $100 in the past two days, or around 25%, based on the report that the electric automaker’s inclusion in the S&P 500 index. TSLA will join the S&P on December 21st.

As of the end of trading hours on Wednesday, Musk is worth $106.9B, but this number will likely grow based on TSLA’s increase in value during Thursday trading hours. At the time of writing, TSLA shares were up $14.27, or 2.93%, to $500.91 per share.

Joey has been a journalist covering electric mobility at TESLARATI since August 2019. In his spare time, Joey is playing golf, watching MMA, or cheering on any of his favorite sports teams, including the Baltimore Ravens and Orioles, Miami Heat, Washington Capitals, and Penn State Nittany Lions. You can get in touch with joey at joey@teslarati.com. He is also on X @KlenderJoey. If you're looking for great Tesla accessories, check out shop.teslarati.com

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Tesla Full Self-Driving gains momentum in Europe with new country mulling approval

Tesla is advancing FSD’s technology across Europe with fresh talks underway in Ireland, signaling broader regulatory progress. On May 10, Ireland’s Department of Transport confirmed that Tesla is actively engaging with national authorities, including the National Standards Authority of Ireland (NSAI) to secure approval for FSD Supervised.

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Credit: Tesla Europe & Middle East | X

Tesla Full Self Driving (FSD) technology is gaining momentum in Europe, with yet another new country mulling a potential approval for operation on its roads.

Tesla is advancing FSD’s technology across Europe with fresh talks underway in Ireland, signaling broader regulatory progress. On May 10, Ireland’s Department of Transport confirmed that Tesla is actively engaging with national authorities, including the National Standards Authority of Ireland (NSAI) to secure approval for FSD Supervised.

While the department noted that full rollout in Ireland would ultimately depend on EU-level clearance, the engagement marks a notable step forward in Tesla’s European expansion strategy, Irish media outlet RTE said.

Tesla FSD in Europe vs. US: It’s not what you think

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The news comes on the heels of a landmark breakthrough in the Netherlands. In April, Dutch vehicle authority RDW granted the first-ever EU type approval for FSD Supervised after 18 months of rigorous testing on public roads and tracks. The provisional approval allows the system on all Dutch roads, with Tesla already rolling it out to select owners following mandatory safety training.

The Netherlands has since notified the European Commission and is advocating for wider recognition, positioning the Dutch decision as a potential template for the bloc.

Europe has long lagged behind the United States, China, and other markets where FSD is more widely available. Strict EU regulations on automated driving systems have required extensive validation, but momentum is building.

Tesla now lists the Netherlands alongside established markets such as the U.S., Canada, Australia, and South Korea on its regional FSD page. Other countries, including Belgium, are reportedly fast-tracking their own review processes in response to the Dutch precedent.

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Analysts see Ireland’s involvement as strategic. As a smaller EU member with unique road challenges—narrow rural lanes, hedgerows, and variable weather—successful validation there could demonstrate FSD’s adaptability and strengthen the case for harmonized EU approval.

Tesla has indicated it aims for broader EU deployment as early as summer 2026, though the timeline remains fluid. Discussions at the EU’s Technical Committee on Motor Vehicles continue, with a possible vote later in the year. Some member states, particularly in Scandinavia, have expressed reservations over edge cases like speeding protocols and long-term safety data.

For Tesla, European expansion is more than a software update; it unlocks significant growth. The continent’s dense population and high vehicle ownership could accelerate data collection, refine the AI models powering FSD, and pave the way for unsupervised autonomy and robotaxi services.

Owners stand to benefit from enhanced safety features and reduced driver fatigue, while regulators weigh innovation against proven risk reduction. Early Dutch results already cite safety improvements:

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Tesla Full Self-Driving shows stunning maneuver in Europe to silence skeptics

But the work is far from done, and challenges are still present. FSD Supervised still requires driver attention and a readiness to intervene. EU rules emphasize that the technology is not fully autonomous, placing legal responsibility on the human operator. Tesla must also navigate varying national road conditions and public perception.

Nevertheless, the Ireland talks underscore a clear trajectory: one national approval at a time, Europe is inching closer to widespread FSD access. If the Dutch model gains traction, Summer 2026 could mark the beginning of a transformative chapter for autonomous driving on European roads.

Tesla’s persistent engagement with regulators is starting to pay off, and it suggests the company is still heavily committed to the expansion efforts across Europe, despite the red tape it has had to persist through.

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Tesla Semi gets strange-but-understandable comparison from Jay Leno

In a recent interview with MotorTrend, legendary comedian and automotive enthusiast Jay Leno shared his impressions after driving Tesla’s long-range Semi truck, offering one of the most vivid descriptions to date:

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Credit: Jay Leno's Garage

The Tesla Semi recently received a strange-but-understandable comparison from automotive enthusiast and former long-time late-night television show host Jay Leno.

In a recent interview with MotorTrend, legendary comedian and automotive enthusiast Jay Leno shared his impressions after driving Tesla’s long-range Semi truck, offering one of the most vivid descriptions to date:

“It’s like driving an office building.”

The comparison may seem quirky—office buildings evoke images of immobility rather than motion—but it aptly conveys the experience of commanding a massive 23,000-pound Class 8 electric truck that delivers sports-car acceleration.

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Lenotested the production-spec Long Range model, which is rated for up to 500 miles of range. He was visibly impressed by its performance, noting how the enormous vehicle moves with surprising urgency.

“It’s as fast as a Tesla, but it’s like driving an office building,” he remarked. “It’s this huge thing that moves like right now. You go 500 miles. You get 60% charge in 30 minutes. You’re saving on fuel costs. It seems quite good.”

The reaction highlights the cognitive dissonance at the core of the Tesla Semi. Traditional diesel semi-trucks are slow, noisy, and expensive to run. The Semi rewrites the rules with instant torque from its tri-motor electric powertrain, producing up to 800 kW.

Despite its size, the truck feels agile thanks to full electric steering assist, upgraded actuators borrowed from the Cybertruck, and a 48-volt electrical architecture that improves responsiveness and efficiency.

Tesla reports real-world energy consumption below 1.7 kWh per mile for the Long Range version. Megacharger stations can deliver a 60% charge in roughly 30 minutes, making the truck suitable for long-haul operations.

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Additional features include an electric Power Take-Off (ePTO) capable of 25 kW for trailer refrigeration or other equipment, and a driver-focused cab with a central seating position for optimal visibility and a quiet, high-tech interior.

Fleet operators stand to benefit significantly from the economics. Diesel trucks often cost nearly one dollar per mile when including fuel, maintenance, and downtime.

Tesla projects the Semi can reduce operating costs to as low as 15 cents per mile through cheaper electricity, regenerative braking that minimizes brake wear, and reduced service requirements. While early deployments, like Pepsi’s, focused on shorter routes, the 500-mile variant targets cross-country applications.

Obstacles remain. A fully loaded tractor-trailer can reach 80,000 pounds, which reduces real-world range compared to the unloaded test conditions. Building out a nationwide Megacharger network will be essential for broader adoption. The Semi also carries a higher upfront price than conventional diesels, though total cost of ownership and available incentives frequently tip the scales in its favor over time.

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Tesla Semi hauls fresh Cybercab batch as Robotaxi era takes hold

Leno’s “office building” description resonates because it captures the unexpected thrill of piloting something so large yet so capable. As the trucking industry faces pressure to cut emissions and control rising fuel expenses, the Semi offers a compelling alternative that excels in performance, comfort, and efficiency.

Coming from a man who has driven everything from vintage classics to modern hypercars, Leno’s genuine enthusiasm adds weight to the verdict.

The Tesla Semi is emerging as more than an experimental EV—it represents a practical vision for the future of heavy-duty transport where massive rigs accelerate instantly, and the numbers finally make sense. If fleet results continue to validate the claims, the era of diesel dominance could be drawing to a close.

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Tesla expands its mass-market color palette in the U.S.

Delivering a fresh splash of color to its lineup, Tesla is giving U.S. buyers two stunning new blue options that are already turning heads.

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Credit: Brand0n | X

Tesla has expanded the color palette it offers on its mass market vehicles in the United States, giving buyers of the Model 3 and Model Y a few additional options than before.

Delivering a fresh splash of color to its lineup, Tesla is giving U.S. buyers two stunning new blue options that are already turning heads. Starting on May 8, the automaker updated its North American configurator to introduce Marine Blue on Model Y Premium trims and Frost Blue exclusively on the Model 3 Performance.

The move replaces the long-running Deep Blue Metallic, a staple for over eight years, and brings previously exclusive shades stateside.

Marine Blue, a deep, rich oceanic hue formerly limited to Europe and Asia-Pacific markets, is now available on Model 3 and Model Y RWD and Long Range AWD Premium variants. Priced at a $1,000 upgrade—standard for Tesla’s premium paints—it delivers a sophisticated, metallic finish that shifts beautifully under light.

Tesla North America highlighted the change directly in an official post, confirming Marine Blue as the new flagship blue for non-Performance models.

Frost Blue, on the other hand, is the real crowd-pleaser for enthusiasts. Previously reserved for the flagship Model S and Model X, this lighter, icy metallic shade is now offered at no extra cost on Model 3 Performance and Model Y Performance trims.

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Performance buyers effectively get a premium color included in the base price, a smart perk that Tesla has extended to higher-end variants across the board. Early in-person sightings and configurator renders show Frost Blue’s cool, modern vibe popping against the cars’ sleek lines, especially with black wheels and red brake calipers.

The timing couldn’t be better. With Tesla pushing refreshed Model 3 and Model Y refreshes amid growing competition, these updates add visual excitement without major redesigns.

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Deep Blue Metallic orders are being transitioned to the new shades, according to customer reports and Tesla communications. In the U.S., Puerto Rico, and Mexico, the options are live now; Canada sees limited Frost Blue availability on the Model 3 Performance.

Tesla’s color strategy continues to evolve, borrowing from higher-end models to refresh mass-market EVs. Now that we bid farewell to the Model S and Model X, some of their colors might be available on the more widely available Model 3 and Model Y.

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