- Elon Musk’s net worth rose above $US100 billion on Wednesday, the same day Amazon CEO Jeff Bezos cracked the $US200 billion barrier.
- Musk’s personal wealth has soared by $US73 billion this year.
- Tesla’s stock has shot up 400% in 2020.
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Tesla CEO Elon Musk has joined the centibillionaires club.
Bloomberg on Wednesday reported that the Tesla billionaire’s net worth had officially surpassed $US100 billion, following a rallying of Tesla shares.
Simultaneously, the world’s richest person, Amazon CEO Jeff Bezos, saw his net worth break the $US200 billion mark.
Many of the world’s richest people have seen their wealth balloon since this year during the coronavirus pandemic. Per Bloomberg, the richest 500 people have made a cumulative gain of $US809 billion. Musk’s wealth has increased by more than $US73 billion since January, according to the Bloomberg Billionaires Index, and Bezos’ by $US87 billion.
Musk’s wealth increase largely comes down to Tesla’s stock soaring 400% this year. As of June, Musk owned 40.4 million Tesla shares, which would account for $US87 billion of his net worth. At the beginning of 2020, Musk owned roughly 38.7 million shares, worth $US16.2 billion.
In May, Musk also hit the first in a series of executive milestones meant to eventually allow him to unlock a $US55 billion bonus package. The first milestone allowed him to unlock one of 12 “tranches” of stock options.
Besides Musk and Bezos, just two other people have a net worth above $US100 billion: Bill Gates, worth $US124 billion, and Mark Zuckerberg, $US115 billion.