Joby Aviation Stock Rally Turns CEO Into Billionaire in a Day

• Joby Aviation stock surged 160% since April, boosting CEO JoeBen Bevirt's stake to over $1.3 billion.
• Share jumped 11% in a single day after Dubai eVTOL test flights and U.S. defense backing.

Joby Aviation stock soars 160%, bringing CEO's net worth past $1.3 billion as flying taxi dreams gain momentum. Joby Aviation has taken off again—not just in the skies, but also in the stock market. The California-based electric air taxi company's stock has risen more than 160% since April, reaching an all-time high of $13.92 in New York trading. That rally has made CEO JoeBen Bevirt a billionaire once more, with his 12% stake in the company now worth $1.3 billion, according to the Bloomberg Billionaires Index.

Bevirt, 51, has seen his fortune more than double in just a few months, thanks to a combination of bullish investor sentiment, defense interest, and promising test flights. Joby Aviation's stock had been struggling since its SPAC debut in 2021, but a string of positive news and growing interest in electric vertical takeoff and landing (eVTOL) aircraft has sent the share price skyrocketing once again.

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Why is Joby Aviation stock rising so quickly?

Joby Aviation's stock has rallied sharply in response to a series of key events. Joby successfully completed a piloted eVTOL test flight in Dubai last month, working with local aviation authorities. This demonstration helped validate the company's technology and was a significant step toward its goal of flying paying passengers by 2026.

President Donald Trump recently signed an executive order supporting a federal eVTOL pilot program, which has fueled the momentum. That policy shift has helped to highlight air mobility innovations while also signaling potential defense interest in the space. Joby's CEO stated in an interview that the company is experiencing "incredible momentum" from the US Department of Defense (DoD).

Joby also announced plans to double production at its main plant, aiming to increase delivery as demand for eVTOL solutions rises.