Elon Musk, the CEO of Tesla and SpaceX, is now the 3rd richest person within the world, as he passed Facebook CEO, Mark Zuckerburg.
Last week, Musk, joined Zuckerberg, Amazon.com Inc.’s Jeff Bezos and Gates within the rarefied centibillionaire club as tech stocks rose.
As of the time of filing this report, Elon Musk was worth $111.9 billion compared with $111.2 billion for Zuckerberg.
Musk has seen a meteoric rise in his wealth, together with his net worth growing by $76.1 billion this year as Tesla shares surged quite 475%.
Tesla, a favourite among amateur investors on online trading firm Robinhood Financial, has been one among the most important beneficiaries of the boom in retail investing during pandemic lockdowns.
At one point last month, almost 40,000 Robinhood accounts added Tesla shares during one four-hour span. and therefore the trend isn’t limited to the U.S.: South Korean retail investors have piled into Tesla this year and hold a few 1% stake within the American automaker.
Tesla’s $454 billion market price now exceeds that of retail behemoth Walmart Inc., the most important company within the U.S. by revenue.
Tesla shares are up over 475 per cent this year, consistent with Bloomberg and there’s wide scale anticipation that the corporate are going to be included within the S&P 500 soon.
SpaceX, too, has grown by leaps and bounds. consistent with a report published on Bloomberg, the corporate is on the brink of finalising a $2 billion funding deal that might increase its equity value to $46 billion, India Today reports.