Elon Musk adds another $11.98 billion to Tesla stock

Elon Musk added another $11.98 billion to his bank account over the last week, as tracked by the Dow Jones Market Data Group.

The most recent filings show that Musk holds 423,622, 000 shares in Tesla, worth $53.87 billion as of close of trading on January 19. The total value of those holdings jumped to $67.89 billion based on Thursday's closing price.

The past five days, Tesla has gone up nearly 25% and 48% since the beginning of the year. The stock is the best performer of the Nasdaq 100, despite being down about 42% lower over the past year.

The last month, the shares have rallied, revving almost 30% into the green. It's the longest winning streak since Sept. 12, 2022, when it went for five straight trading days.

In its latest earnings release on Wednesday, Tesla said it generated $24.32 billion in fourth-quarter revenue, a 37% increase from the same three-month period last year. The company's profits saw a roughly 59% jump from Q 4 to $3.7 billion in the year 2021, while its adjusted earnings per share came in at $1.19.

Refinitiv's estimates for revenue and earnings per share were $24.16 billion and $1.13, meaning that Tesla came in higher on both.

The company said in early January that its vehicle production for the quarter came in at over 439,700 vehicles. Its deliveries were nearly 405,300.

Musk praised the Tesla team during the earnings call for its performance, despite the fact that 2022 was an incredibly challenging year due to forced shutdowns, very high interest rates and many delivery challenges. In January, we have seen the strongest orders year-to-date than ever in our history. He said that we are seeing orders at almost twice the rate of production.

Musk said it was hard to say whether that will continue.