Elon Musk's net worth increases by $6.35 billion in one day

• Elon Musk gained $6.35 billion in New York trading on Monday. 
• Global investors piled into Tesla shares as optimism around investment in electronic vehicles grew. 
• At present, Tesla is worth $707 billion. 

The world's richest man, Elon Musk gained $6.35 billion in New York trading on Monday, valuing him at $192 billion, reported Nairametrics on Tuesday. 

The South African-born billionaire, Elon Musk, has been ranked as the richest person in the world according to "Bloomberg’s Billionaires Index".

With the car company Tesla's prices rising by 3.88%, Musk posted record gains on Monday. At present, Tesla is worth $707 billion. 

Global investors piled into shares of Tesla on Monday as optimism around governments investing in electric vehicles grew. The California-based car manufacturing company mostly deals with producing electric sedans and SUVs. 

Earlier in a Tesla live stream, Musk had unveiled a humanoid robot, a machine learning product. The robot has been cited as a "game-changing breakthrough" for Tesla. 

Executives at Tesla recently held an artificial intelligence day where AI progress was showcased. The event also recruited new engineers. 

Data collection, retraining, model reconditioning, and redeployment are all believed to contribute towards Tesla's growth.

However, with the chip crisis, downsides remain. Musk informed that Tesla is experiencing a shortage of semiconductors. 

“Today, no car can possibly function without electronics.” Musk had said. 

The shortage of semiconductors has led other car manufacturers like Daimler to offer workers short-term contracts.