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Tesla CEO Elon Musk has changed his job title to “technoking” from the electric car maker. In addition, the company’s chief financial officer, Zach Kirkhorn, has been named “master of the coin.” This comes after Musk sets a new record for making an estimated $ 25 billion profit in a single day, becoming the first to do so. On March 9, Tesla’s stake increased by 20 percent, bringing Musk’s fortune to $ 174 billion.
(Image credits: ElonMusk / Twitter)
So far, the company has not explained the meaning of the titles. However, according to speculation, Kirkhorn’s new title could have something to do with Tesla’s ambitions around cryptocurrency. Tesla, earlier this year, had invested $ 1.5 billion in bitcoin. The company also said that its goal is to start accepting bitcoins as a form of payment from its customers.
Tesla and bitcoins
Previously, Tesla’s stock market profit was boosted by an update from New Street Research analyst Pierre Ferragu. He also recommended buying the shares. Musk also benefited from a sudden spike in the value of bitcoins. Shares in the electric car company have plummeted since late January. In addition, the recent gain has brought its founder’s fortune closer to that of Bezos. As a consequence, the two tech moguls are separated by less than $ 6 billion (roughly Rs. 43.580 crore).
The gains contrast with the notable decline of China’s Zhong Shanshan, who in December dethroned Mukesh Ambani as the richest person in Asia and surpassed Warren Buffett in January to become the sixth richest in the world. Zhong is now the biggest loser of the year and has fallen from the top 15 list in the Bloomberg ranking. The Bloomberg Billionaires Index is a daily ranking of the richest people in the world. It is based on closing figures from the New York Stock Exchange.
As of March 11, Bezos remains at the top with a total net worth of $ 180 billion followed by Musk with $ 173 billion. Third on the list is Bill Gates with a net worth of $ 138 billion. Following Gates comes Bernard Arnault with a fortune of $ 122 and fifth on the list is Mark Zuckerberg with a net worth of $ 101 billion.
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