Single-day Tesla share surge of $10 billion sees Elon Musk as the richest man
Tesla‘s CEO Elon Musk crosses the $300 billion net-worth thresholds after his fortune surged by $10 billion in a day.
All thanks to a Tesla share spike, a day before Microsoft regained the title of the world’s most valuable company.
Elon Musk-run electric car company Tesla on Monday hit the $1 trillion market cap for the first time. Tesla becomes the fifth US company to join the $1 trillion club, after Apple, Microsoft, Amazon, and Alphabet.
Musk’s net worth hit $302 billion as of Thursday, according to the Bloomberg Billionaires’ Index.
As per the reports, the increase of $10 billion was due to a rise in Tesla shares on Thursday, after the electric car firm inked a huge deal with Hertz for the rental giant to buy 100,000 of its vehicles.
The mogul is now worth over $100 billion more than the second-richest person on earth, Amazon founder Jeff Bezos. His fortune sits at $199 billion.
On Friday, Microsoft regained its perch as the world’s most valuable company, with a $2.46 trillion market cap, after an Apple share slump saw the iPhone maker’s overall value plunge around four percent to $2.41 trillion.
This came after Apple fell just under 4 percent after lower than expected fourth-quarter revenues. Microsoft climbed 1.1 percent to blow past Apple after higher than expected revenue estimates for an 11th straight quarter, the report said.
Microsoft is now more valuable than Apple for the first time since early 2020. The company is on pace for its biggest weekly gains since January, the report said
Musk is now worth more than the annual GDP of nations like Egypt, Portugal, the Czech Republic, Greece, Qatar, and Finland.
He’s also worth more than the market value of PayPal, the company he co-founded, as well as streaming giant Netflix.
The interesting fact is SpaceX’s CEO, and the richest man on Earth, Elon Musk is now richer than Pakistan, a country whose population is over 220 million.
[With Inputs from IANS]
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