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Elon Musk Becomes the Fourth Richest Person in the World

Elon Musk Becomes the Fourth Richest Person in the World
Elon Musk Gains $8 Billion to Become World’s Fourth-Richest Person: Bloomberg| Photo Credit: Getty Image

The charismatic billionaire is now the fourth-richest person in the world after an 11 percent jump in Tesla Inc. stock on Monday, closing at a record high and raising Musk’s net worth by $7.8 billion.
The rise vaulted French luxury tycoon Bernard Arnault, the richest non-American on the Bloomberg Billionaires Index, past the Tesla co-founder.
Musk’s $84.8 billion fortune puts him at the ranking of the world’s 500 richest people within $15 billion of Mark Zuckerberg, No. 3.
The Tesla rally on Monday is just the latest victory for the billionaire. According to a recent Bloomberg analysis, Elon Musk’s financial increase has shown no signs of slowing down in the last few months even with the negative impact of the pandemic on the global economy.
Tesla shares this year are up 339 percent, boosted by rising expectations that the company will be included in the S&P 500 Index.
Musk’s Space Exploration Technologies Corp., or SpaceX, is set to further pad its assets. Bloomberg reported last week that the company is close to finalizing $2 billion in new funding which would raise its equity valuation to $46 billion.
This year, Musk’s fortune grew by $57.2 billion, the second-biggest increase on the index after Jeff Bezos’s founder of Amazon.com Inc.
The world’s richest man racked up $73 billion in 2020 and is now worth $188 billion. While Bill Gates, Mark Zuckerberg is in second and third places respectively, placing Elon Musk at fourth.

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