Elon Musk is rolling in the cash. As his Tesla stocks continue to surge following a 5-to-1 split, Musk has surpassed Mark Zuckerberg to become the third richest man on the planet, according to Bloomberg.
Musk is now worth $115.4 billion, per the report.
From the report:
Musk, 49, has seen a meteoric rise in his wealth, with his net worth growing by $87.8 billion this year as Tesla shares surged almost 500%. Also helpful: an audacious pay package — the largest corporate pay deal ever struck between a chief executive officer and a board of directors — that could yield him more than $50 billion if all goals are met.
Tesla, a favorite among amateur investors on online trading firm Robinhood Financial, has been one of the largest beneficiaries of the boom in retail investing during pandemic lockdowns. At one point last month, almost 40,000 Robinhood accounts added Tesla shares during a single four-hour span. And the trend isn’t limited to the U.S.: South Korean retail investors have piled into Tesla this year and hold about a 1% stake in the American auto maker.
Tesla has a market value of $464 billion
This year alone, Musk has watched his net worth increase $87.8 billion.
Considering there has been a global pandemic thanks to the coronavirus, Musk has had one hell of a year.
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