Elon Musk Became Fourth Richest Person Globally, up $57.2 Billion in 2020
CEO of SpaceX and Tesla is now the world's fouth-richest person, according to the Bloomberg Billionaires Index. As of writing, only Amazon's Jeff Bezos, Facebook's Mark Zuckerberg, and Microsoft's Bill Gates are wealthier than Musk.
Elon Musk becomes fourth-richest person on the planet
Musk's rise comes at the cost of LVMH's Bernard Arnault falling to fifth place in the scoreboard of well-off title-holders. This rise in capitalist splendor comes on the heels of the latest rally in Tesla stock, which closed at $1,650 on Monday — nearly a record high for the company, reports Mashable.
Monday's stock surge alone raised Musk's fortune an additional $7.8 billion higher; in total, Musk's fortune increased $57.2 billion to date in 2020, according to Bloomberg's financial math.
Additionally, we're likely to see Musk's fortune increase even more in the near future. Tesla stock is at $1,895 as of writing, and Bloomberg also reports that SpaceX is approaching $2 billion in new funding — an amount that would increase its valuation to $46 billion (the firm was reportedly valued at $36 billion during its February spike in funding in 2020).
Bezos, Gates, Zuckerburg's fortunes also rise amid coronavirus crisis
Of course, Musk holds a substantial share of stocks in both companies. In general, major tech CEOs and founders did very well, with the fortunes of Gates, Bezos, and Zuckerberg all rising in 2020. Zuckerberg smashed through the $100 billion mark for the first time, and Bezos' fortune is nearing the coveted and unprecedented $200-billion milestone. Even Microsoft's Gates — who is no longer actively involved int he company's dealings — saw his fortune rise to $114 billion, reports Forbes.
Additionally, Apple CEO Tim Cook was reportedly raised to billionaire status earlier this month — thanks to the significant rise in Apple's stock price this year.
As the coronavirus crisis forces many people and businesses throughout the world into an economic standstill, it's interesting to note that the billionaires at the top of the world's major industrial sectors are amassing the greatest financial fortunes of their careers.