Elon Musk gains $8 billion to become the world’s fourth-richest person.
After a huge surge of 11 percent in his Tesla Inc shares, Elon Musk became the world’s fourth-richest person in the world.
Closing on a record high, Tesla Inc shares surged 11 percent on Monday and helped entrepreneur Elon Musk become the world’s fourth-richest person. The rise in share prices boosted the outspoken entrepreneur’s net worth by $7.8 billion.
Elon Musk is narrowing the distance between him and third-placed Mark Zuckerberg:
The Tesla co-founder overtook the wealthiest non-American, French luxury tycoon Bernard Arnault, to rise to the fourth position on the Bloomberg Billionaires Index. Musk’s net worth now stands at $84.8 billion which put him within $15 billion of Facebook-founder Mark Zuckerberg, who is third in the list of the world’s 500 richest people. Just two years ago, the billionaire had to resign as chairman of the electric-car maker over rogue tweets and was sued by the US Securities and Exchange Commission. This year, Tesla shares are up 339 percent, fueled by the growing belief that the company will be inducted in the S&P 500 Index.
SpaceX’s equity valuation may increase to $46 billion:
Musk’s SpaceX, or Space Exploration Technologies Corp., is close to finalizing $2 billion in new funding that would potentially pad his fortune further. Last week, Bloomberg reported that SpaceX’s equity valuation would increase to $46 billion if the funding deal is successful. Amazon Inc founder Jeff Bezos continues to remain the world’s richest man with a net worth of $188 billion. Bezos amassed $73 billion this year, and Elon Musk’s fortune grew by $57.2 billion in 2020, the second-biggest increase on the index.
Tech shares have been off the roofs this year, owing to the novel COVID-19 global pandemic. India’s Mukesh Ambani is now the sixth richest man in the world, with a worth of $78.8 billion.
