Tesla CEO Elon Musk’s net worth reached $ 100 billion on August 26, making him one of four inches in the world.
Elon Musk’s net worth rose to more than $ 100 billion on Wednesday, the same day that Amazon CEO Jeff Bezos broke the $ 200 billion barrier. Musk’s wealth rose to $ 101 billion following a rally in Tesla shares, according to the Bloomberg Billionaires Index.
Musk’s personal wealth has increased by $ 73 billion this year as during the 2020, Tesla shares rose 400%.
Musk’s net worth increased by $ 73.6 billion in 2020, even lower than Amazon founder Jeff Bezos, whose fortune increased by $ 87.1 billion, according to the report. Musk, the general founder of Tesla, who is the fourth richest person in the world, does not take home a salary and his compensation is based largely on stock options.
Tesla stock pulled $ 2,000 for the first time on August 20, before the stock split.
Other chief technology officers, such as Bezos and Mark Zuckerberg, experienced massive increases in wealth in 2020.
On August 26, Bezos, the richest person in the world, became the first person to break the $ 200 billion mark, Bloomberg reported. Zuckerberg’s net worth topped $ 100 billion in early August.
The report said that amid the COVID-19 pandemic, the wealth of the world’s 500 richest people has risen by $ 809 billion by 2020, up 14% from January.
Tesla CEO Elon Musk has joined the centibillionaires’ club.
Bloomberg reported Wednesday that billionaire Tesla’s net worth officially surpassed $ 100 billion, following a rally in Tesla shares.
At the same time, the richest person in the world, Amazon CEO Jeff Bezos, saw that his net worth will be $ 200 billion.
Many of the richest people in the world have seen their globe of wealth since this year during the coronavirus pandemic. According to Bloomberg, the 500 richest people made a cumulative profit of $ 809 billion. Musk’s wealth has risen by more than $ 73 billion since January, according to the Bloomberg Billionaires Index, and Bezos by $ 87 billion.
The surge in Musk’s wealth comes down largely to Tesla shares up 400% this year. In June, Musk owned 40.4 million shares of Tesla, which would mean $ 87 billion of his net worth. At the beginning of 2020, Musk owned approximately 38.7 million shares, worth $ 16.2 billion.
In May, Musk reached the first of a series of executive milestones aimed at finally allowing him to unlock a $ 55 billion bonus package. The first stage allowed him to unlock one of 12 “tranches” of stock options.
Besides Musk and Bezos, only two other people have a net worth of more than $ 100 billion: Bill Gates, worth $ 124 billion, and Mark Zuckerberg, $ 115 billion.