Elon Musk is the third-richest person in the world — at least for the moment.
Musk passed Facebook co-founder Mark Zuckerberg Monday as shares of Tesla continued their unrelenting rally after undergoing a forward stock split.
As of 2:22 p.m., Musk was worth $111.9 billion compared with $111.2 billion for Zuckerberg, according to the Bloomberg Billionaires Index, which is updated at the end of each market day.
As per reports, Musk surpassed Zuckerberg as shares of Tesla persisted their unrelenting rally after the present process a forwards inventory split.
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Musk has viewed a meteoric upward jab in his wealth, with his internet well worth developing via $76.1 billion this yr as Tesla shares reportedly shrugged over 475 percent.
His upward jab in wealth is additionally a result of his pay package, which is the greatest company pay deal ever struck between a CEO and a board of directors.
Musk’s income ought to yield him greater than $50 billion of all desires are met.
Musk joins centibillionaire club
Tesla is one of the preferred companies amongst novice traders in on-line trading. The employer has been one of the biggest beneficiaries of the increase in retail investing all through coronavirus pandemic lockdowns.
According to reports, at one factor final month, nearly 40,000 Robinhood bills brought Tesla shares throughout a single four-hour span.
The fashion is additionally now not simply restricted to the US as South Korean retail buyers have piled into Tesla this 12 months and preserve about a one per cent stake in the American automaker.
According to reports, Tesla’s $454 billion market cost now handed that of retail behemoth Walmart Inc., which is the greatest corporation in the US by means of revenue.
Last week, Musk additionally joined Zuckerberg, Amazon’s Jeff Bezos and Bill Gates in the rarefied centibillionaire membership as tech shares rose. The Tesla CEO nevertheless has a lengthy way to end up the world’s richest man or woman as Bezos is well worth about $200 billion.