We find it hard to believe that Tesla's chief executive officer Elon Musk could possibly be running low on cash, but that's the story we've heard. If true and Musk actually is almost broke, he's a lot less so now with the addition of some $24 million in pocket change courtesy of Tesla's recent IPO. In the first day of trading, Tesla's stock shot up 40 percent, bringing in a significant amount of coin for the company, and Musk benefited, too.

As the Detroit Free Press reports, Musk made a whopping $24 million in a single day courtesy of the IPO. Musk sold 1.42 million of his Tesla shares at $17 per, including additional shares that fall under the category of over-allotment to underwriters. The sale netted Musk a cool $24 million, but there's a significant chance that he could earn much more. Musk still holds 26.9 million Tesla shares which were valued at $516 million as of the end of the day on Friday and he could option off more stock to add to his $24 million in chump change. All in all, Musk made out all right and if he's still considered broke, then we wouldn't mind joining him in the poor house.

[Source: Detroit Free Press]

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