California, July 2025:
JoeBen Bevirt, the visionary behind Joby Aviation, has re-entered the billionaire ranks after a sharp rise in the company’s share price. With a 12% ownership in the electric air taxi firm, Bevirt’s stake now exceeds $1.3 billion, marking a significant comeback from earlier stock market setbacks.
Shares of Joby Aviation recently climbed 10% to $13.92, reaching their highest value since the company’s public listing in 2021. The rally follows a series of positive developments in the eVTOL (electric vertical takeoff and landing) space, including a successful test flight in Dubai and increased backing from the U.S. Department of Defense.
“Air taxis are now a top priority at the federal level,” Bevirt said in a March interview. “The momentum we’re seeing, particularly from the defense side, is extremely exciting for the entire industry.”
A Second Wind for Joby Aviation
The dramatic rise in Joby’s market value comes after a difficult period that followed its SPAC debut in 2021, when the company’s valuation temporarily soared but quickly declined as investors awaited a finished product. Today, however, the landscape looks different.
The company recently revealed plans to expand its manufacturing capacity, signaling readiness for the next phase of development and commercialization. Meanwhile, competitors like Archer Aviation have also shifted focus to defense contracts, adding credibility and investor enthusiasm to the entire sector.
High-Speed Urban Transport, Closer Than Ever
Joby’s aircraft is built to deliver fast, quiet, and efficient urban travel. Capable of 200 mph speeds and vertical takeoff and landing, it eliminates the need for traditional runways. A proposed route between Manhattan and JFK Airport could cut travel time to just seven minutes, with fares expected to rival luxury ride services like Uber Black.
While Joby has not yet launched its commercial operations or onboarded paying passengers, the company’s recent achievements and clear roadmap have sparked investor optimism.
About JoeBen Bevirt
Bevirt is a seasoned entrepreneur with a background in mechanical engineering from UC Davis and Stanford University. Before founding Joby Aviation, he launched multiple ventures, including Velocity11 (robotic lab systems) and Joby Inc., creator of the GorillaPod flexible tripod.
Final Thoughts:
JoeBen Bevirt’s return to the billionaire list is symbolic of the growing credibility and momentum behind electric air taxis. As Joby Aviation scales production and garners government interest, the era of everyday air travel may be just around the corner.
