Tesla's Robotaxi Launch Boosts Musk's Net Worth by 5%

Elon Musk's net worth surged by $19 billion on Monday, marking a significant increase following Tesla's highly anticipated robotaxi debut in Austin. The launch of the robotaxi service, which has been in development for several years, represents a major milestone for Tesla and its ambitious plans to revolutionize the automotive industry. The event in Austin, where Tesla's Gigafactory is located, showcased the company's latest advancements in autonomous driving technology. The robotaxi, equipped with state-of-the-art sensors and AI capabilities, is designed to provide a safe and efficient transportation solution, potentially transforming urban mobility.

The successful launch of the robotaxi has not only bolstered Tesla's position in the market but also underscored Musk's influence and vision as a tech innovator. The substantial increase in Musk's net worth reflects the market's confidence in Tesla's future prospects and the potential of its autonomous driving technology. This development is likely to further solidify Tesla's leadership in the electric vehicle and autonomous driving sectors, as the company continues to push the boundaries of innovation.

The debut of the robotaxi in Austin is a testament to Tesla's commitment to advancing technology and sustainability. The event highlighted the company's ability to execute on its ambitious goals, despite the challenges and uncertainties in the industry. As Tesla continues to expand its operations and introduce new technologies, it is poised to shape the future of transportation and mobility. The success of the robotaxi launch is a significant step forward for Tesla and a clear indication of the company's potential to disrupt traditional automotive and transportation models.

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, raising his net worth to about $385 billion and helping offset a $47.5 billion decline since the start of 2025.

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.”

However, 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.” Tesla said it would avoid bad weather and tricky intersections and would not carry any riders under 18 for robotaxi rides. The agency 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 the agency that its safety reports on the Texas robotaxi rollout, including how it performs in bad weather, are confidential and shouldn’t be made public. The agency 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.