That is some increment.
Tesla CEO Elon Musk on Monday raised his net worth by $ 5 billion thanks to Tesla’s never ending stock rally, ending the day as the world’s fifth richest person with $ 74.2 billion. Could.
Musk, who recently ranked No. 20 in the global rankings a few weeks ago, now trails only Facebook CEO Mark Zuckerberg, Microsoft’s Bill Gates, luxury goods titan Bernard Arnault and Amazon chief Jeff Bezos, according to Forbes.
Tesla shares gained 9.5 percent in the electric automaker’s upcoming earnings report, hitting a high of $ 1,643 on the day. If it posts a profit that meets generally accepted accounting principles, it will have four consecutive profitable quarters under its belt – a key metric to be added to the popular S&P 500 stock index.
The rally saw Tesla’s market cap end at 305.6 billion – nearly $ 100 billion ahead of Toyota, the world’s second-largest automaker by market cap.
Tesla will report its quarterly earnings on Wednesday evening.
Don’t look for an outspoken billionaire anytime soon to claim the title of world’s richest man. He has a $ 5 billion net worth spike on Monday compared to the $ 12.9 added by Bezos, who has a fortune of $ 188.9 billion.