Elon Musk regains $45.2 billion as Tesla axes the Cybertruck

American billionaire Elon Musk won back about $45.2 billion on Friday as Tesla and SpaceX shares rebounded, hours after he confirmed that Tesla will stop making the Cybertruck to free up space for its driverless Cybercab.

The gain lifted Musk’s fortune back above $800 billion by 1 p.m. in New York, according to Forbes. Tesla shares rose about 4% and SpaceX shares climbed 6%, as technology stocks staged a partial recovery from Thursday’s steep selloff.

The rebound followed two brutal sessions. Musk lost roughly $35 billion on Wednesday and about $80 billion on Thursday, as investors dumped AI-linked stocks after Democrats won control of Congress and pledged tighter rules on data centers. Friday’s recovery erased more than a third of those losses.

Meanwhile, the Cybertruck decision gave investors a fresh reason to buy. Musk confirmed on X that production of the angular electric pickup will end around mid-2027 at Tesla’s Gigafactory in Texas. The factory space will be redirected to the Cybercab, Tesla’s two-seat robotaxi with no steering wheel or pedals.

Responding to a post about the shutdown, Musk wrote that “the Cybertruck fleet will be around for a long time,” suggesting that Tesla will continue to support vehicles already on the road.

The move effectively ends one of Musk’s most high-profile and divisive products. Tesla has never disclosed separate Cybertruck sales figures, but the truck fell far short of the 250,000 annual sales target Musk once set. Billionaires.Africa reported in October that it was selling at no more than 13% of that goal.

Tesla has not issued a formal statement, set an exact end date or announced any restructuring charge or job changes, according to Yahoo Finance. Its latest regulatory filing, dated Oct. 21, still lists the Cybertruck among its products.

The bet on robotaxis is central to Musk’s vision for Tesla. Engineering chief Lars Moravy said the company is building Cybercabs at the rate its robotaxi service needs them, while Chief Financial Officer Vaibhav Taneja named regulatory approvals as the main bottleneck. Musk has said robotaxi revenue should become noticeable around the second quarter of 2027.

Tesla shares traded at about $360 on Friday afternoon, up from Thursday’s close of $343.69. However, the stock remains down about 20% this year and roughly 11% over the past week.

Musk was not alone in recovering. Michael Dell gained $4.2 billion, Mark Zuckerberg added $4.1 billion and Nvidia’s Jensen Huang rose about $4 billion, according to Forbes.

As a result, Musk heads into the weekend still far ahead as the world’s richest person, though the week’s swings show how quickly political and market sentiment can move his fortune.