Elon Musk is on the verge of becoming the fifth centibillionaire in the world.
Elon Musk is about to break his twelfth figure. Shares of its electric car maker Tesla jumped 3.75% on Thursday, boosting Musk’s net profit by $ 3.2 billion, to $ 98.8 billion – just $ 1.2 billion away from making Musk the fifth centibillionaire in ‘ the world.
He is according to the fifth richest person in the world Forbes‘real-time rankings, clocks for Oracle of Omaha Warren Buffett and behind Facebook’s Mark Zuckerberg.
Musk’s fortune has doubled since mid-March, when he stood at number 31 Forbes’ Billionaire list of the world with a net worth of $ 24.6 billion. He owns 21% of the company’s $ 416 billion (market cap), but has pledged more than half of his share as collateral for personal loans; Forbes applies a discount on its promised shares to cover the loans.
Tesla shares will share on a 5-for-1 basis on Friday after the market closes and start trading on a split-adjusted basis on Monday. Shares have risen 35% since Tesla announced the move on August 11th.
Analysts are divided over Tesla’s meteoric rise. Bernstein analyst Toni Sacconaghi called the company’s rating at the end of July “shocking”. “Despite our relatively strong stance on evolution of electric cars, and structural advantages that we believe Tesla can hold, we find it difficult to justify Tesla’s current appreciation, even under our hottest / imaginative scenarios,” he wrote. Sacconaghi in a research note. He also warned that the Chinese government could take revenge on Tesla and other US tech companies over President Trump’s TikTok ban.
Wedbush’s Dan Ives, who recently increased its stock price preparations to $ 3,500 a share, says Tesla will stay afloat. “We still think bright days for Tesla are ahead,” Ives said Bloomberg last week. “Despite the haters scratching their heads, stocks are moving higher.”
Musk has received two huge share options this year, worth $ 6.4 billion, as part of its compensation package. A third is underway as Tesla maintains a six-month average market capitalization of $ 200 billion, placing both $ 55 billion in revenue and $ 4.5 billion in adjusted EBITDA for the previous four consecutive quarters.
