Tesla shares (TSLA) yesterday briefly reached a level never seen before for the stock, except in Tesla CEO Elon Musk’s controversial tweet from over a year ago. In that tweet, Musk said that funding had been secured to take Tesla private at $420 a share, something which never materialized.
Am considering taking Tesla private at $420. Funding secured.
— Elon Musk (@elonmusk) August 7, 2018
After climbing to as high as $422.01, Tesla shares eventually finished the day at $419.22, up 3.4%. The stock has gained more than 73% over the last three months alone.
To celebrate the milestone $420 share price, Musk went to Twitter and had a little fun making a reference to his now infamous appearance on the Joe Rogan podcast where he lit up a joint with the host Joe Rogan.
Whoa … the stock is so high lol
— Elon Musk (@elonmusk) December 23, 2019
According to a 2019 SEC filing, Musk owns roughly 38.6 million shares of Tesla. At current prices, that makes Musk’s shares worth over $16 billion. That’s an increase of nearly $10 billion over a few short months, when shares bottomed out at as low as $176.99 back in June 2019.