Musk becomes the world's richest man again after robotaxi launch

Elon Musk's fortune soared by $19 billion in a single day, making him the world’s richest person once again. The trigger? Tesla officially launched its long-awaited robotaxi service in Austin, Texas.

A Revolution for $4.20 a Ride Tesla began operating its autonomous ride-hailing service on Sunday with a flat rate of $4.20 per trip. While each ride is still accompanied by a safety operator, the announcement alone caused investor excitement — Tesla stock jumped 8%, hitting an intraday high of 11%. As a result, Musk’s net worth climbed to $385 billion, putting him well ahead of Mark Zuckerberg and Jeff Bezos. Musk called the rollout “the culmination of a decade of hard work,” praising Tesla’s AI and chip design teams.

Analysts Urge Caution Despite the market’s enthusiasm, some analysts are urging caution. UBS raised its Tesla price target but still maintained a “sell” rating, warning that much of the robotaxi optimism might already be priced in. Experts also highlight several technical and logistical challenges, such as sensor limitations, complex road scenarios, and inadequate infrastructure.

U.S. Regulators Launch Safety Probe Meanwhile, U.S. safety regulators are already investigating. The National Highway Traffic Safety Administration (NHTSA) is reviewing videos allegedly showing Tesla robotaxis veering out of lanes or speeding. NHTSA has requested documentation from Tesla, especially about how these self-driving cars perform in poor weather, at complex intersections, and regarding passenger age restrictions. Tesla stated that its safety reports are confidential and should not be made public. However, the agency is reviewing Tesla's submissions. It’s not the first time either — since October, NHTSA has been probing crashes involving Tesla’s autonomous vehicles in low visibility conditions, including one fatal incident.

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