Elon Musk Set To Be World's Third-Richest Person After His Wealth Increased By $15 Billion

Aadhya Khatri - Nov 18, 2020


Elon Musk Set To Be World's Third-Richest Person After His Wealth Increased By $15 Billion

Elon Musk is about to become the world’s third-richest person, taking over Mark Zuckerberg's position after Tesla enjoys a 13% increase in the share price

Elon Musk is about to become the world’s third-richest person, taking over the position from Mark Zuckerberg after Tesla enjoys a 13% increase in the share price.

Tesla shares have already grown by nearly 500% this year and with the latest jump, his fortune is set to increase by around $15bn to a new high of $117.5bn.

Elon Musk
With the latest jump, Musk's fortune is set to increase by around $15bn to a new high of $117.5bn

According to the Bloomberg Billionaires Index, Elon Musk has overtaken Zuckerberg, who possesses a fortune of $106bn and the former world’s third-richest person.

Mark Zuckerberg
Elon Musk has overtaken Zuckerberg, who possesses a fortune of $106bn and the former world’s third-richest person

Musk holds 20% of Tesla’s shares and he is also the founder of SpaceX – a hugely successful rocket company.

Musk’s wealth can skyrocket again if he gets the bonus deal of $55,8bn. If he wants the maximum payout, he will have to make Tesla a $650bn company by the year 2028.

The two billionaires richer than Musk right now are Amazon’s Jeff Bezos, with $184bn, and Microsoft’s Bill Gates who owns $129bn. Gates has committed over $50bn for the fight against poverty and diseases.

Jeffbezosbillgates
The two billionaires richer than Musk right now are Amazon’s Jeff Bezos and Microsoft’s Bill Gates

Elon Musk is among the billionaires who have agreed to the Giving Pledge founded by Warren Buffett and Bill Gates. The philanthropic initiative encourages the world’s richest to donate at least 50% of their wealth for good causes.

Following the admission to the S&P 500, the share price of Tesla increased to $460, from $409. The automobile company joining the index is vital as passive funds keeping track of the index will buy the company’s shares.

According to an S&P Dow Jones Indices spokesperson, Tesla will be among the largest weight additions in the last 10 years, thus generating one of the largest funding trades in the index’s history.

Tesla now owns the highest market value despite manufacturing a small number of vehicles. This year, the auto company is set to launch around 500,000 vehicles, compared to 10m of Toyota.

>>> Tesla Wants To Build An R&D Center In Bengaluru

Comments

Sort by Newest | Popular

Next Story

Read more

Pfizer and BioNTech SE COVID-19 Vaccine Approved In The UK, Expected To Make 50 Million Doses

Features- Nov 30, 2020

Pfizer and BioNTech SE COVID-19 Vaccine Approved In The UK, Expected To Make 50 Million Doses

The United Kingdom is set to approve the COVID-19 vaccine developed by Pfizer and BioNTech SE next week, according to the Financial Times.

This Solar Panel Can Work Even When There's No Sunlight

Features- Nov 30, 2020

This Solar Panel Can Work Even When There's No Sunlight

The concept makes use of luminescent particles from vegetable and fruit waste that absorb UV light, which is then converted into visible light.

iPhone 12 Pro Max Hands On Review: A Worthy Upgrade Over iPhone 11 Pro Max

Review- Nov 30, 2020

iPhone 12 Pro Max Hands On Review: A Worthy Upgrade Over iPhone 11 Pro Max

In this iPhone 12 Pro Max hands on review, we will go through our impressions of the most premium iPhone model in various aspects.

Poco X3 vs OnePlus Nord vs Pixel 4a: Which Is Suitable For You?

Mobile- Nov 30, 2020

Poco X3 vs OnePlus Nord vs Pixel 4a: Which Is Suitable For You?

Here we would like to compare the Poco X3, OnePlus Nord, and Pixel 4a so that if you are considering an upgrade, you can make a more informed decision

War Movie Torrent: Download Link For Indian Movie Lovers

Features- Nov 30, 2020

War Movie Torrent: Download Link For Indian Movie Lovers

Before you follow the War movie torrent link to get it, let’s take a look at the movie’s review to see if it’s worth your precious time

Wealthy People Are Flying To US To Get A Dose Of COVID-19 Vaccine

Features- Nov 30, 2020

Wealthy People Are Flying To US To Get A Dose Of COVID-19 Vaccine

With Vaccine tourism, customers who want to get a dose of the COVID-19 vaccine will have to pay Rs 1.75 lakh for a four-day trip to the US.