After after Tesla Inc shares increased 11 per cent on August 17.
Tesla Inc CEO Elon Musk has become the fourth richest person in the world on August 18, after Mark Zuckerberg, Bill Gates and Jeff Bezos according to Bloomberg
Musk’s net worth increased to $84.8 billion on the Bloomberg Billionaires Index, after Tesla Inc shares increased 11 percent on August 17. In the process, Elon Musk’s net worth increased past French luxury tycoon Bernard Arnault, the current wealthiest non-American on the Bloomberg Billionaires Index and is now just under $15 billion of Facebook’s CEO, Mark Zuckerberg, who holds the number three position among 500 richest people in the world.
Reliance Industries’ chairman, Mukesh Ambani, who had become the fourth richest person on August 8 is now placed sixth on the billionaire’s list, with a total net worth of $78.8 billion.
Musk’s wealth has increased by a whopping $57.2 billion this year, marking the second-largest increase on the index after Amazon.com founder Jeff Bezos.
In July, Elon Musk had overtaken Warren Buffett to become the seventh richest person in the world. Buffett had donated Berkshire Hathaway shares worth $2.9 billion to charity, causing a decrease in his net worth.
Tesla’s shares increased as much as 500 percent during the past year as the company pushed up the sales of its Model 3 sedan. Tesla shares gained 339 percent this year itself with the hopes of the company’s inclusion in the S&P 500 Index.
Technology shares have been outperformers this year even though the coronavirus pandemic and the resultant push for online work has lifted the fortunes of many companies.
