Bloomberg’s list of billionaires indicate Tesla’s Elon Musk is now the fourth richest in the world.
Tesla is further buoying the unconventional chief exec Elon Musk into the ranking of the wealthiest person on the planet, according to Bloomberg.
The electric vehicle giant just boosted its shares by 11 percent at the start of this week. Per Bloomberg, Tesla’s stock closed a record high on Monday. This increase further added a $7.8 billion to Elon Musk. As a result, Musk also climbed the 500 richest people in the world.
Elon Musk Is Now the World’s Fourth-Richest Person https://t.co/QLMzTsk0eF
— Bloomberg Wealth (@wealth) August 18, 2020
The Tesla chief exec, which is now fourth in the list, is only behind Mark Zuckerberg. Per the Bloomberg Billionaires Index, he now surpassed French business tycoon and art enthusiast Bernard Arnault, the richest non-American in the rankings.
Tech and Wealth
Per Bloomberg’s index this week, Elon Musk is said to have a total net worth of $104 billion, just $7 billion shy of the founder of social media giant Mark Zuckerberg with $111 billion. Still on the top place is Amazon’s owner Jeff Bezos with $200 billion, followed by philanthropist Bill Gates with $125 billion net worth.
This updated rankings just further cement the place of the tech moguls in the list of wealthiest people.
The skyrocket of Musk’s wealth is largely due to the boosting of Tesla’s share price. Bloomberg also noted that the chief exec’s wealth rose by $57 billion this year, making a second-record high jump among the publication’s index of richest people. The climb in Musk’s fortune for this year is just behind that of Bezos’, who saw a $73 billion growth in fortune for 2020.
Just earlier this year, Tesla’s market cap has even surpassed those of other most valuable carmakers in the world, including rival Toyota and other brands like Ford and BMW.
Tesla is dominating the electric vehicle market. However, Morgan Stanley analysts previously mentioned that Tesla’s stock could be overvalued. Although the analysts kept estimating a plunge in Tesla’s share, so far, it is yet to happen.
Back in July, Musk told Forbes that he does not mind about the figures of his fortune. Tesla’s chief exec added: “These numbers rise and fall, but what really matters is making great products that people love.”
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