Joby Aviation CEO becomes a billionaire overnight after stock skyrockets 160% and 11% in a day
Joby Aviation has taken flight once again—not just in the skies, but in the stock market too. The California-based
electric air taxi company
has seen its shares surge over 160% since April, hitting 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 valued at $1.3 billion, according to Bloomberg Billionaires Index.
Bevirt, 51, has seen his fortune more than double in just a few months, thanks to a mix of strong investor optimism, defense interest, and promising test flights. Joby Aviation's stock had struggled since its 2021 SPAC debut, but a string of good news and growing enthusiasm around electric vertical takeoff and landing (eVTOL) aircraft has sent the share price soaring again.
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What's fueling Joby Aviation's stock explosion?
Several key developments have fueled the massive spike in Joby's share price, which is now trading around
$15.50
, more than double its April lows:
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Undo
Production ramp-up:
Joby is expanding its California facility and launching production in Ohio, aiming to deliver up to
24 aircraft per year
. This scale-up is a major confidence booster for investors betting on the future of air taxis.
Commercial readiness:
The company is prepping for real-world deployment, with pilot flights already underway in Dubai and plans for service in NYC and Los Angeles by 2025.
Sector momentum:
Broader interest in advanced air mobility, coupled with policy support and investor buzz, has lifted the entire eVTOL (electric vertical takeoff and landing) space.
The sharp rally in Joby Aviation stock follows a series of key events. Last month, Joby completed a successful piloted eVTOL test flight in Dubai in partnership with local aviation authorities. That demonstration helped validate the company's technology and marked an important step toward its goal of flying paying passengers by 2026.
Adding to the momentum, President Donald Trump recently signed an executive order supporting a federal eVTOL pilot program. That policy shift has helped shine a spotlight on air mobility innovations and signaled potential defense interest in the space. Joby's CEO said in an interview that the company is seeing 'incredible momentum' from the U.S. Department of Defense (DoD) side.
Live Events
Joby also announced plans to double production at its main plant, aiming to scale up delivery as demand for eVTOL solutions grows.
How is Joby stock performing short- and long-term?
Short-term outlook
Joby is currently riding strong bullish momentum, with
technical indicators pointing to continued upside
.
Analysts expect it could climb to
$16–$17
in the near term, though volatility remains high.
Long-term forecast
Wall Street is more cautious about the long game:
Consensus 12-month price target:
~$9.33, implying potential downside from current levels.
Forecasts vary widely: some models predict a drop to
$5–7
by 2026, while bullish scenarios keep it above $13.
Why the skepticism? Despite all the buzz, Joby still brings in
very little revenue
(~$136K in 2024) and remains
unprofitable
.
Joby's soaring stock reflects real excitement about its future, but it also comes with big risks:
Bull case:
The company is leading the race in eVTOL with FAA progress, international pilots, and physical infrastructure already under development. If it executes well, it could dominate the flying taxi space.
Bear case:
With no meaningful revenue yet and high costs, Joby remains a
speculative play
. A misstep in certification or commercial rollout could quickly deflate the hype.
Who is JoeBen Bevirt, the man behind Joby?
JoeBen Bevirt, 51, is an engineer, inventor, and now billionaire entrepreneur. He founded Joby Aviation back in 2009 with a futuristic vision of transforming urban mobility through electric air taxis.
Education:
Mechanical Engineering degrees from UC Davis and Stanford.
Career:
Before launching Joby, he founded successful tech companies like Joby (the camera gear maker) and robotics startup Velocity11.
Inventions:
He holds
160+ patents
, many tied to eVTOL tech.
Equity:
He owns about
12% of Joby
, now worth over
$1.3 billion
thanks to the recent stock rally.
What makes Joby's flying taxi different from others?
Joby's eVTOL aircraft is designed to fly up to 200 miles per hour, land and take off vertically without a runway, and produce 100 times less noise than helicopters. The company hopes to make city travel faster and more sustainable by flying over congested roads and offering point-to-point service.
One of its most anticipated routes is from lower Manhattan to JFK Airport, which could take as little as seven minutes. CEO Bevirt says the pricing will be comparable to an Uber Black ride, making it accessible to more travelers.
Joby's three-part strategy includes direct operations, selling aircraft to others, and forming regional partnerships—like the one it announced with Virgin Atlantic earlier this year to launch air taxi services at London Heathrow and Manchester airports.
Is the eVTOL industry ready for takeoff?
The eVTOL market is gaining serious attention as cities look for cleaner, faster transportation options. Unlike helicopters, electric air taxis produce no emissions and less noise. They also show promise in rescue missions and remote-area transportation.
According to market research, the eVTOL sector is expected to grow from $1.76 billion in 2024 to $24.1 billion by 2031, at a CAGR of 51.6%. That kind of growth is fueling investor excitement—not just in Joby, but also in rivals like Archer Aviation, which has also seen its stock climb recently.
Toyota, a major backer of Joby, reinforced its support in October 2024 with a $500 million investment, and Joby closed the first $250 million tranche this year. The funding is aimed at fast-tracking certification and manufacturing processes.
What risks still hang over Joby Aviation's future?
Despite the excitement, Joby Aviation hasn't yet started commercial operations. It still needs to secure final approvals from aviation regulators, ramp up manufacturing, and win over public trust. That means no current revenue from flying passengers, and plenty of hurdles still lie ahead.
Safety concerns, battery reliability, and affordability remain key issues. Battery-powered aircraft face risks like thermal failure, while many customers are still unsure about flying taxis in general.
Financially, Joby's valuation is stretched, trading at a price-to-book (P/B) ratio of 11.09x, far above its industry average and competitor Archer Aviation. Both Joby and Archer carry a Zacks Value Score of F, suggesting their current stock prices may be too high relative to fundamentals.
Should investors buy or wait on JOBY stock?
With all the buzz around electric flying taxis, Joby Aviation seems like a company of the future. But from an investor's point of view, the stock is still a speculative bet. Zacks currently ranks JOBY a #4 (Sell), citing valuation concerns and uncertainty around commercialization.
While Joby has secured strong partnerships, completed key test flights, and is scaling up production, real profitability may still be years away. As always, investors should weigh the potential rewards against the risks of investing in a still-developing market.
Stock Price
: $13.92 (up 160% since April)
CEO Stake
: 12% ($1.3 billion value)
Speed of Aircraft
: 200 mph
Noise Reduction
: 100x quieter than helicopters
Target Launch Route
: Manhattan to JFK – 7 minutes
Production Goal
: Up to 500 aircraft/year in Dayton
Market Growth
: $1.76B (2024) → $24.1B (2031), CAGR 51.6%
Recent Toyota Investment
: $500 million
Valuation (P/B)
: 11.09x
Zacks Rank
: #4 (Sell)
Joby Aviation might be flying high right now, but investors should approach with caution. The vision is bold, the momentum is real, but the challenges are just as large. Until commercial flights take off and earnings follow, JOBY remains a stock driven more by promise than profits.
FAQs:
What is Joby Aviation's electric flying taxi?
Joby Aviation makes eVTOL air taxis that fly quietly, without emissions, for fast urban trips.
Why is Joby Aviation stock going up?
Joby stock rose after Dubai test flights, U.S. policy support, and plans to boost production.
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