Tesla's Robotaxi in Austin Boosts Stock, Musk’s Net Worth Soars

- Tesla robotaxi service launch in Austin (June 22, 2025) fuels Musk's wealth surge. - Stock rises 8% amid ongoing safety investigations by U.S. regulators. On June 24, 2025, The Week reported Elon Musk gained $19 billion in a single day, making him the world’s richest billionaire. His wealth surged after Tesla launched its robotaxi service in Austin. The service, which debuted on Sunday, June 22, 2025, caused Tesla’s stock price to increase 8% on Monday, June 23, 2025. This stock increase occurred while U.S. regulators continued their safety investigations into Tesla’s robotaxi operations. The Austin robotaxi service began with a limited number of riders and charged a flat fee of $4.20 per trip. For safety, employees accompanied each ride. Consequently, Elon Musk’s net worth rose to approximately $385 billion. However, analysts advised caution regarding potential overvaluation and technical obstacles. For example, UBS upheld a "Sell" rating on Tesla shares. While UBS slightly raised its price target, the bank noted that robotaxi optimism might already be reflected in the current stock price. The National Highway Traffic Safety Administration (NHTSA) contacted Tesla for more information regarding incidents observed in online videos, which included lane violations and speeding. The NHTSA is currently reviewing Tesla's safety reports on the Texas robotaxi rollout, for which Tesla requested confidentiality. This review expands upon an existing NHTSA investigation initiated by the agency in October to examine crashes involving Tesla's Full Self-Driving cars under low-visibility conditions. Meanwhile, other media outlets also commented on these developments. On June 24, Mashable reported the launch details, including the $4.20 trip fee and the presence of a safety employee. On the same day, Mint detailed the new Texas regulations for autonomous vehicles and the launch specifics, while Carbon Credits emphasized the environmental benefits and the stock increase following the launch. Additionally, Straight Arrow News and Forbes reported on June 24 about the stock rally and Musk’s net worth rise. According to CoinMarketCap, as of June 24, 12:00 UTC, Ethereum (ETH) traded at $2,563. Its 24-hour trading volume had increased by 1.5%.