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Elon Musk knocks Mark Zuckerberg Off Third Richest Man In The World

Elon Musk knocks Mark Zuckerberg Off Third Richest Man In The World

Elon Musk knocks Mark Zuckerberg Off Third Richest Man In The World

Mark Zuckerberg’s reign as the third-richest man on Earth didn’t last long.

The Facebook CEO lost his grip on the No. 3 spot this week after Tesla boss Elon Musk’s wealth soared to new heights, capping a rally that has seen him add a mind blowing $87.8 billion to his fortune this year.

Musk worth $115.4 billion now trails only Amazon CEO Jeff Bezos and Microsoft’s Bill Gates in the wealth rankings. Bezos’ net worth recently topped $200 billion, while Gates is worth $124.8 billion, according to the Bloomberg Billionaires Index.

Zuckerberg, who recently became a centabillionaire, is worth $110.8 billion. Musk has seen his fortune grow more than anyone else this year, narrowly beating out Bezos, whose own net worth is up $87.6 billion as stuck-at-home consumers have turne to Amazon for all their shopping needs.

Tesla’s shares have been on a dizzying rally this year that has seen the company’s market cap more than quadruple.

The electric automaker on Monday underwent a 5-for-1 stock split, sending its share price up more than 12 percent. Tesla’s market cap now sits at $457.4 billion. Tesla became the world’s most valuable carmaker by market capitalization when it overtook former front-runner Toyota on July 1.

The company now accounts for more than 40 percent of the total market cap of a group of 12 of the world’s largest automakers.

 

About Darlington Onoko

Darlington Onoko
Simple guy who loves sharing life experiences || Professional Blogger || Code writer and Web Developer || Unmatched sense of humor || C'mon life's too short. Why so serious..?

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