Coinspeaker
Elon Musk Becomes World’s 4th Richest Person as Tesla Shares Go Above $2K Level

Elon Musk, CEO of the leading EV maker Tesla Inc (NASDAQ: TSLA) and the space exploration company SpaceX, is currently the fourth richest person with approximately $101 billion according to Bloomberg Billionaires Index.

According to the index, Amazon CEO Jeff Bezos is leading the list with approximately $202 billion as of the time of publication. In the second place is Bill Gates with approximately $124 billion, followed by Facebook CEO Mark Zuckerberg with around $115 billion.

Musk has seen his net worth skyrocket in recent months as Tesla shares have more than tripled.

Having added around 6.42% during the day on Wednesday, Tesla (TSLA) stock closed the day trading at $2153.17. Additionally, the shares had added almost 1% in the pre-market to trade around $2172.

To put the figures into proper perspective of Tesla share, Musk’s wealth has grown approximately 871.17% in the past one year, jumped over 414% YTD, added over 167 in the past three months, and he is now over 44% up in the last one month.

However, Musk has pledged approximately 18.5 million shares as collateral against personal obligations. This is according to the company’s 2020 proxy filing. According to the Bloomberg report, these shares are included in the net worth analysis and their value offset by a 25% discount as of May 2020.

Notably, the pledged share count was increased on April 28, 2020, whereby it resulted in a $1.7 billion fall in his net worth. In addition, Musk also holds about 8 million exercisable options.

Being the CEO of SpaceX that was valued at around $46 billion as of the last funding, his net worth is set to further increase amid the pandemic. SpaceX has seen tremendous growth with its capabilities to successfully launch rockets in conjunction with NASA during the second quarter.

The company has also been working on other programs that are set to be launched in the coming years with some already beyond the scale testing.

Owning around 54% of SpaceX, Bloomberg’s analysis assumes he didn’t sell shares in subsequent fundraisings, therefore his stake has been diluted to about 48% in proportion to the amount raised.

Previously, Musk testified in a Los Angeles courtroom that he had a net worth of about $20 billion in December 2019.

He is likely to clinch the third position as the company continues climbing in terms of market capitalization, with which he had been promised a significant amount of reward in shares.

Elon Musk Becomes World’s 4th Richest Person as Tesla Shares Go Above $2K Level

Similar to Notcoin - Blum - Airdrops In 2024

origin »

202 +