Agency, Nov 1. Elon Musk, the CEO of electric car maker Tesla, has become the first rich person in the world to have a net worth of $300 billion. The reason for this is that due to the increase in the prices of his company’s shares, his wealth increased by 10 billion dollars in one day.
Tesla shares increased on Friday
In fact, on Friday last week, the prices of Tesla’s shares had increased tremendously. Due to this, there has been a significant increase in the net worth of Elon Musk. He achieved this feat when, a day later, Microsoft became the company with the highest valuation. According to a report in Daily Mail, Musk’s net worth is currently $302 billion.
$10 billion in assets
According to the news, Musk’s net worth had increased by $10 billion on Friday due to the increased price of Tesla shares. The reason for the increase in the price of the shares was that Hertz placed an order to buy 1 lakh Tesla cars. Hertz drives vehicles on rent and has placed such a huge order in a single day. Hertz placed the order on 26 October.
Bezos is at number two
Amazon’s Jeff Bezos is at number two after Elon Musk. His net worth is $199 billion. That is, Musk is ahead of him by $100 billion. Whereas till some time ago the difference in wealth between the two used to be 10-20 billion dollars. Amazon has a market cap of $2.46 trillion. Apple’s market cap is $2.41 trillion. Apple’s stock prices have fallen sharply recently. Due to this, its market cap has also been affected.
Apple’s stock lost 4%
Apple’s stock was down 4% last week following poor fourth-quarter results. Microsoft comes after Apple. Its stock had lost 1.1% last week. Microsoft is a more valuable company than Apple. For the first time since the beginning of the year 2020, it has overtaken Apple. Its stock has risen the most in the last week since January this year.
Musk’s wealth exceeds GDP of many countries
Musk’s wealth is now more than the GDP of countries like Egypt, Portugal, Greece, Qatar and Finland. His wealth is more than the market cap of PayPal and Netflix. On the day Hertz placed the order for Musk’s company, his wealth had increased by $36 billion. While Tesla’s stock jumped 13%. Tesla’s share price is up 45% this year.
