Elon Musk is now the fifth richest man in the world after his net worth hit $ 74 billion on Monday afternoon thanks to a recovery in Tesla stock.
Shares of the company, founded by Musk, 49, reached $ 1,643.00, a 300% increase since January 2020 and a 60% increase since the end of June. Tesla is now worth more than General Motors, Ford, BMW and Ferrari combined and has surpassed all rivals to become the most valuable automaker in the world.
When asked by Forbes about his wealth, Musk, who is also the CEO of SpaceX, said: “I really couldn’t care less. These numbers are increasing and decreasing, but what really matters is making great products that people love. ‘
The world’s richest man, Amazon founder Jeff Bezos, also saw his net worth rise by $ 13 billion in one day on Monday. That’s the biggest one-day jump in a person’s wealth in the history of Bloomberg’s billionaires list. He now has a fortune of $ 189.3 billion.
Elon Musk is now the fifth richest man in the world after his net worth hit $ 74 billion on Monday
Jeff Bezos saw his net worth increase by $ 13 billion in one day on Monday
Amazon has seen its share price rise 73% since the beginning of the year, thanks to an increase in online shopping amid the coronavirus.
That increase makes Bezos, which has an 11 percent stake, worth more than companies like Nike and McDonald’s.
Musk was worth just under $ 25 billion in March and ranked 31st on Forbes’ rich list. Since then its wealth has tripled.
Now he’s left behind only Facebook founder Mark Zuckerberg, who is fourth richest, Microsoft’s Bill Gates third, Bernard Arnault second, and Bezos, who is the world’s richest man.
Shares of the company founded by Musk, 49, reached $ 1,643.00 on Monday, a 300% increase since January 2020 and a 60% increase since the end of June.
Amazon has also seen a 73 percent increase in its share price since the beginning of the year, thanks to an increase in online shopping amid the coronavirus.
Tesla’s stock price has increased more than six times since October, trading around $ 1,500 on Monday.
Retail investors around the world, staunch believers in the company’s mission to lead the auto industry into a battery-powered future, have invested their personal money, and sometimes their parents’ retirement funds, in Tesla and got beautiful rewards.
Tesla reports second quarter results on Wednesday after the close of trading. While analysts polled by Refinitiv on average expect the company to report a loss, a surprisingly strong vehicle delivery report raised hopes among many retail investors for a profitable quarter.
While the total number of Tesla retail investors is unknown, about 75 percent of the company’s shares are owned by large institutional investors and Tesla executives, including CEO Elon Musk, according to Refinitiv data.
Bezos, pictured left with girlfriend Lauren Sánchez, now has a fortune of $ 189.3 billion. Musk, right with his girlfriend Grimes, was worth just under $ 25 billion in March and ranked 31st on Forbes’ rich list. Since then its wealth has tripled.
Tesla’s shares are among the most popular on US retail investor platforms, such as Robinhood Markets Inc and TD Ameritrade.
The number of users holding Tesla shares in the Robinhood trading app increased more than 400 percent from the first two weeks of July 2018 to the same point this year, according to data from Robintrack.net, which collects data on the platform. investment.
In South Korea, where Tesla has become the latest craze among tech-savvy professionals, the company is the most sought-after overseas stock, with Koreans buying Tesla shares worth $ 3.2 billion at this year, almost 13 times more than all 2019.
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