Elon Musk Is Now The Fourth Richest In The World

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The COVID-19 pandemic has done significant disruption to all communities and industries across the globe. However, in such bleak days, there were those that still managed to take a few steps up the ladder.

How can we forget the Reliance Jio investment show that brought giants like Facebook, Google, and Qualcomm, among others, to invest in the telecommunications giant? And now, another billionaire has become richer in the pandemic.

Elon Musk, CEO of Tesla and SpaceX, is currently the fourth wealthiest person in the nation, according to the Bloomberg Billionaire Ranking. Elon Musk witnessed an increase in his fortune as Tesla’s value grew by 11 percent on Monday. It raised the net wealth to $84.8 billion — nearly 8 billion a day.

Musk has also joined the world’s wealthiest tech billionaires club, which features Jeff Bezos (claiming the first position at $188 billion), Bill Gates (claiming second place at $121 billion), Mark Zuckerberg (claiming third place at 99 billion) and Bernard Arnault (claiming a fifth place at $84.6 billion).

Musk’s Tesla and SpaceX are on a successful track this year. The Bloomberg analysis reveals that Tesla’s shares have risen by more than 300 percent this year, with the firm on the brink of eventually being listed in the S&P 500.

SpaceX, on the other hand, has performed very well with the successful launch and landing of the Crew Dragon spaceship, as well as the positive construction of the Spaceship, which would carry mankind to Mars. The firm is already near to finalizing a $2 billion funding agreement that will raise its value to $46 billion.

Elon Musk, too, was doing well this year. A recent study showed that while not receiving a paycheck, Elon managed to receive $775 million as part of an incentive-related payout of about 1.7 million Tesla shares, depending on their valuation at the period.

Elon Musk earned the bonus after Tesla’s market capitalization rose to $100 billion on the ’30-day and six-month trailing scale.’

Tech companies were on the verge of weeping this year when the Covid-19 pandemic brought more users online, raised the fortunes of the company’s investors, and placed the business under intense scrutiny. This month, Facebook Inc.’s Mark Zuckerberg became the centibillionaire, joining Bezos and Bill Gates, the second richest person on Earth.

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