Elon Musk gains $ 8 billion, making it the 4th richest person in the world as Tesla Stock Sources


REUTERS / Steve Nessius

  • Tesla CEO Elon Musk’s personal wealth rose nearly $ 8 billion on Monday, as the stock rose 11% to an all-time high.
  • Musk is now the fourth richest person in the world according to the Bloomberg Billionaires Index.
  • Overall, Musk’s total assets grew by $ 57.2 billion this year, the second-largest gain since Jeff Bezos’ $ 73 billion increase.
  • Watch Tesla live insiders on the business market.
  • Read more on Business Insider.

Elon Musk’s personal wealth is rising with Tesla’s stock.

On Monday, Tesla’s stock price rose 11% and closed at an all-time high, with the CEO’s total assets increasing by nearly $ 8 billion. According to the Bloomberg Billionaires Index, Musk now has total assets of $ 84.8 billion, making him the fourth richest person in the world.

Musk overtook French billionaire and CEO of luxury brand LVMH Bernard Arnault to secure a spot on the list. He is now behind Facebook CEO Mark Zuckerberg, with a net worth of $ 99 billion.

Read more: Bruce Fraser raised the S&P 500 by about 286% as a hedge-fund manager before switching to real estate investment. He described the strategy in which he amassed over 1,600 multinational units.

Tesla shares have been on a tear this year, gaining around 349% and reaching several highs. The company has become the most valuable automaker in the world, benefiting from solid vehicle sales during the coronovirus epidemic, a streak of profitable income, and its eligibility for inclusion in the popular S&P 500 index.

Overall, Musk’s total assets grew by $ 57.2 billion this year, the second-largest gain since Jeff Bezos’ $ 73 billion increase. The $ 188 billion Amazon CEO is the world’s richest person.

Read more: Morgan Stanley: A historical shift is taking place below the market surface. Here are 5 reasons that it will redefine the investment landscape as we know it.

Screen shot 2020 08 18 at 10.06.25 AMMarket insider

    .

Leave a Reply

Your email address will not be published.