Tesla CEO Elon Musk added more than $26 billion to his fortune on Thursday after the electric vehicle maker’s shares soared in response to strong quarterly results.

Musk’s fortune also posted gains on Friday, rising by $4.3 billion since the close of trading on Thursday, Forbes’ real-time wealth tracker showed. His net worth hovered around $274.1 billion as of Friday morning.

Shares of Tesla tumbled in the wake of its quarterly earnings release on Wednesday. It reported a 7.8% year-over-year increase in third-quarter revenue and a 16.9% increase in third-quarter net profit. The gross margin meanwhile amounted to 19.8%.

Elon Musk at a joint T-Mobile and SpaceX event on August 25, 2022 in Boca Chica Beach, Texas. (Photo by Michael Gonzalez/Getty Images/Getty Images)

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In its quarterly shareholder presentation, the electric vehicle maker said it “expects to achieve modest growth in vehicle deliveries in 2024” despite “continued macroeconomic conditions.” Deliveries of affordable Tesla models were “still on track” for the first half of 2025, the company said.

Musk told analysts and investors that Tesla was “profitable despite a very challenging automotive environment” and remained optimistic about the company’s efforts in autonomous vehicles, including the recently unveiled Cybercab.

Tesla Model Y and Model 3 vehicles on display at a store in Tokyo. (Photo by Stanislav Kogiku/SOPA Images/LightRocket via Getty Images/Getty Images)

His current net worth comfortably maintains his status as the richest person in the world, according to Forbes.

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Behind Musk, fellow billionaires Larry Ellison and Jeff Bezos ranked second and third on the outlet’s real-time rankings, with a net worth of $213.9 billion and $206.9 billion, respectively.

Elon Musk arrives at the Tenth Breakthrough Awards Ceremony at the Academy Museum of Motion Pictures in Los Angeles on April 13, 2024. (Photo by ETIENNE LAURENT/AFP via Getty Images/Getty Images)

A report from the Informa Connect Academy predicted in September that Musk could become the very first trillionaire within a few years. It also suggested that Tesla’s market cap could reach $1 trillion by 2025.

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