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Elon Musk is Now the World’s Fifth Richest Person

  • Elon Musk’s net worth, as of Monday, has surpassed $74 billion, making him the fifth richest person in the world and placing him ahead of Warren Buffet and Steve Ballmer.
  • The 49-year-old is the CEO of SpaceX and Tesla, the electric car manufacturer whose stock price has skyrocketed since March.
  • With a market value of $304.5 billion, Tesla is now not only the most valuable automotive maker in the world, it’s worth more than Ford, Ferrari, General Motors and BMW combined.

Elon Musk’s net worth, as of Monday, has surpassed $74 billion, making him the fifth richest person in the world and placing him ahead of Warren Buffet and Steve Ballmer.

The 49-year-old is the of CEO SpaceX and Tesla, the electric car manufacturer whose stock price has skyrocketed since March. In Monday’s trading, Tesla’s stock rose another 9.5 percent to $1,643.00, giving it a 60 percent rise in just three weeks since June 29 and an almost 300 percent increase in 2020 alone.
With a market value of $304.5 billion, Tesla is now not only the most valuable automotive maker in the world, it’s worth more than Ford, Ferrari, General Motors and BMW combined. Musk ranked No. 31 on Forbes’ Billionaires List as recently as mid-March, with a net worth just under $25 billion. Since then, his wealth has almost tripled, rising to $74.2 billion at the close of Monday’s trading.
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Tesla’s rapid growth has worried some investors, because it is much smaller than its rivals, and it has only recently begun to report quarterly income. During the first quarter, Tesla produced 103,000 vehicles; during this same time, Toyota produced 2,4 million vehicles. US automakers General Motors and Ford reported 10 times more revenue than Tesla in 2019.
Late last month, Morgan Stanley analysts reported that Tesla stock, which at the time traded at approximately $1,000 a share, was greatly overvalued and likely to fall. Earlier this month, Musk claimed the Tesla would deliver essentially completely autonomous self-driving vehicles by the end of 2020, an assertion that was met with scepticism by an automotive industry accustomed to Musk’s hype heaping on. Musk hasn’t sold Tesla stock since 2010.
Speaking with Forbes on his net worth earlier this month Musk said,“I really couldn’t care less,” Musk emailed Forbes about his net worth earlier this month. “These numbers rise and fall, but what really matters is making great products that people love.”

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