Elon Musk is now richer than Mark Zuckerberg


Was inspired by the increase in oyster wealth Tesla’s (TSLA) The 12% stock gain on Monday after Tesla’s 5-1 stock split makes it the world’s third richest person, according to the Bloomberg Billionaires Index, the founder and CEO of Tesla. He is now only poorer than Bill Gates and Jeff Bezos.

The top five billionaires in the world are (in order): Jeff Bezos, Bill Gates, Elon Musk, Mark Zuckerberg and LVMH CEO Bernard Arnault in France.

Musk is also the founder of several other companies including SpaceX, The Boring Company, Hyperloop and OpenAI.

Tesla’s stock has grown nearly 500% in 2020, and the company now stands at about $ 475 billion.

Musk’s pay package, which was approved by Tesla shareholders in 2018, gives him no salary or cash bonus. Instead, CEOs are paid in millions of stock options worth millions of dollars. The company has received two multi-billion dollar payments in the form of some profit and stock price thresholds, and is soon to receive another.
Musk owns more than 18% of the company’s shares, more than three times the next largest shareholder. So as Tesla’s stock surged, Musk’s total assets soared to nearly $ 90 billion this year, pushing him from the middle of the pack to the top three. According to Forbes and Bloomberg estimates, in January 2020, Musk’s total assets were approximately $ 32 billion, made up of Tesla shares.

Musk’s holding is set to decrease somewhat: Just one day after the stock split, the company announced plans to sell up to about $ 5 billion in new shares, according to a regulatory filing with the Securities and Exchange Commission. Shares fell nearly 1% on Tuesday.

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