Due to his business ventures, Elon Musk’s actual investment portfolio is not truly known and most traders are not able to match most of the billionaire’s known holdings.
Indeed, as the founder, owner, or CEO of multiple privately-owned companies, the majority of investors would not be able to benefit from the staggering explosion in the valuation of SpaceX, the fortunes and misfortunes of X, or of the Boring Company.
Still, Elon Musk’s most important holding is not only freely available to invest in but would have yielded exceptional returns in 2024 and even in the initial sessions of 2024: Tesla Motors (NASDAQ: TSLA).
Picks for you
Would a $1,000 in Musk’s largest holding pay off in 2024?
Indeed, more than half of the South African-Canadian-American billionaire’s wealth is accounted for by TSLA shares. Tesla’s rally in 2024 is, along with the aforementioned upward revaluation of SpaceX, largely responsible for Musk reaching his record-breaking fortune.
Despite the stock of the electric vehicle (EV) maker starting 2024 slow and even, for a time, becoming one of the worst-performing companies in the benchmark S&P 500 index, it managed to end the year 68% in the green.
The rally, in large part fueled by Donald Trump’s re-election and the political alliance between the two billionaires, sent TSLA stock to new highs as it closed the year at $403.84 and, by press time on January 7, took it to $411.05.
Such a setup means that a $1,000 investment made on January 2, 2024 – the first trading session of the year – at $248.42 would have appreciated to $1,625.63 by December 31, and to $1,654.67 by the time of publication.
$1,000 invested in Musk-linked cryptocurrencies would be worth
Though not explicitly a part of Elon Musk’s portfolio, several other investments commonly associated with the billionaire would have also led to stellar returns.
For example, purchasing $1,000 worth of Bitcoin (BTC) – a cryptocurrency once accepted by Tesla as payment and with an increasing likelihood of being taken as well as it increases its involvement with green energy – would have appreciated to $2,130.69.
A similar investment in Dogecoin (DOGE) – Musk’s favored meme coin – would have risen to a value of $3,431.32.
Featured image via Shutterstock
