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Elon Musk now the third-richest person in the world



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Elon Musk is now the third-richest person in the world, closely following Microsoft founder Bill Gates and Amazon chief Jeff Bezos. The Tesla CEO left behind Facebook’s Mark Zuckerberg as the third richest person after shares of Tesla continued unrelenting rally after undergoing a stock split.

Tesla now has a $464 billion market value and with that, it exceeds the market value of retail giant Walmart. Tesla is now also the largest company in the US by revenue. Thanks to that, Elon Musk now has a total fortune of $115.4 billion compared with $110.8 billion for Zuckerberg, according to the Bloomberg Billionaires Index.

However, Elon Musk will still need to grow by leaps and bounds to catch upto Jeff Bezos who is worth more than $200 billion.

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Elon Musk’s wealth has seen a commendable rise this year with his net worth growing by $87.8 billion as Tesla shares surged almost 500%. He will also receive more than $50 billion if all goals are met under his pay package as the 49-year-old secured the largest corporate pay deal ever between a chief executive officer and a board of directors.

Tesla stocks have gained this year due to a rise in retail investing during pandemic lockdowns and has been one of the hot picks among amateur investors on online trading firm Robinhood Financial, according to Bloomberg. In fact, the frenzy among investors for Tesla stocks is not just limited to the US; South Korean retail investors have also piled into the American auto maker’s stocks.

Meanwhile, also gaining fortunes amid the pandemic is Jeff Bezos’ ex-wife MacKenzie Scott who became the world’s richest woman on Monday. She pipped L’Oreal SA heiress Francoise Bettencourt Meyers. Mackenzie Scott had received a 4% stake in Amazon as part of her divorce from founder Jeff Bezos. She is now worth $66.4 billion.

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