Tesla's stock market performance since 2013 has resulted in Elon Musk's net worth increasing by $26 billion.

• On Thursday, Tesla's stock price increased by 22%, resulting in a $26 billion increase in Elon Musk's net worth.
• Larry Ellison, Musk's former Tesla board member, is now worth approximately $212 billion, according to Forbes, leaving Musk with a net worth of around $268 billion.
• Tesla experienced its second-best day on the stock market after reporting earnings and projecting 2025 growth.

On Thursday, Elon Musk, the world's richest person, gained an additional $26 billion in paper wealth after his company's stock experienced its largest rally since 2013.

According to Forbes, Musk's current net worth is approximately $269 billion, which is $50 billion more than that of his friend and former Tesla board member Larry Ellison, who remains the largest shareholder in the company.

Tesla, SpaceX, Twitter, and xAI are all companies owned by Musk, with Tesla accounting for the majority of his net worth.

The outcome of a shareholder lawsuit regarding Musk's 2018 pay package could potentially increase his wealth.

Tesla's better-than-expected earnings report and Musk's comments on the call about vehicle growth led to a 22% increase in Tesla shares, their second-largest gain since their IPO in 2010.

Despite Tesla shares experiencing a decline prior to the earnings announcement, the stock has since recovered and is currently up 5% in 2024, outpacing the Nasdaq's 23% increase.

Tesla exceeded analyst expectations with earnings per share of 72 cents, thanks to $739 million in revenue from environmental regulatory credits and $326 million in revenue from FSD.

During the earnings call, Musk highlighted Tesla's upcoming autonomous future, including a public ride-hailing service that could launch in Texas and California as early as next year. Two weeks prior to this, Tesla showcased the Cybercab concept at its long-awaited robotaxi event.

Although Waymo has been providing a commercial driverless service to the public since June, Tesla has been unable to meet its own projections for bringing a product to market. The company still does not offer cars that are safe to operate without a human driver, who must remain ready to steer or brake at all times.

In 2017, Musk presented both a heavy-duty Semi truck and a Roadster refresh, but the Roadster design is still not finalized, and the company is only in "pilot production" with the Semi.

On Wednesday's call, Musk did not discuss his support for Donald Trump or his campaign spending.

After publicly endorsing Trump following the first assassination attempt on him in July, Musk has intensified his rhetoric, particularly on X, and has donated millions of dollars to a political action committee backing the Republican candidate.

In Pennsylvania, a crucial swing state, Musk has been actively campaigning. Over the weekend, he announced that he would randomly give $1 million a day to registered voters who signed a petition supporting his pro-Trump PAC, in an attempt to motivate his fans in battleground states to vote.

On Wednesday, a source close to the matter informed NBC News that the PAC may have violated federal election law due to Musk's voter sweepstakes, as warned by the U.S. Department of Justice.

Prior to the earnings call, numerous investors expressed concerns regarding Musk's political involvement.

"The anonymous retail investor on the Tesla forum questioned how the company addresses Elon Musk's political activism, which seems to conflict with his responsibility as CEO to protect shareholder value. The investor also asked if Musk's actions are harming sales or growth."

The comment with 168 upvotes and the question with 527 upvotes were both related to Tesla's board and Elon Musk's political engagement. The comment questioned if Musk's political involvement was detracting from Tesla's core mission and protecting shareholder value and brand integrity, while the question asked if the board was taking any action to address this issue.

In a recent post on X, Musk stated that the current election is crucial to the future of the United States.

WATCH: Surprised how little tech came up during Musk-Trump conversation