Tesla Inc. (Nasdaq: TSLA) CEO Elon Musk has added more than 1 111 billion to his fortune so far this year, making him the second richest man in the world, but the wealth acquired by others in the electric vehicle industry is much higher.
what happened: According to the Bloomberg Billionaire Index, after adding 403% of its wealth this year, Musk is valued at 139 139 billion – but many of its Chinese peers have moved on to become richer.
Founder William Lee’s estate Neo Inc. (NYSE: NIOO), the fastest growing of the world’s 500 richest people. Lee grew 1159% richer, adding 6. 6.82 billion to his coffins, bringing the total to 4 7.41 billion, according to Bloomberg.
Expang Inc. (NYSE: XPEV) Chairman He Xiaoping became 3,643% richer this year, as his total wealth increased to. 8.8 billion.
Ltd. Auto Toe Inc. (Nasdaq: LI) CEO Li Xiang, worth 6 6 billion, saw his wealth increase by 616%, while Wang Chuan-fu, chairman BYD Co Ltd (OTC: BYDDF) is 236% richer and is valued at .1 14.1 billion.
Why it’s important: Shares of Neo rose 1,093.53% year-on-year, while shares of Tesla rose 580%.
Musk’s Chinese rivals are surrounded by Tesla’s plans to launch a low-cost EV and compare it to an auto Tomcare. Apple Pal Inc. (Nasdaq: AAPL) In its early days, Kasturi-led company will lead the overall market growth.
Price action: Tesla stocks closed down nearly 2.7% on Wednesday at 8,568.82 and rose 2.48% to close at 2 582.93.
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