Musk’s fortune settled at $306.4 billion on Tuesday afternoon, Forbes estimates, after crossing the previously untouched $300 billion threshold on Monday as Tesla’s stock continued its tear. The electric car company’s market capitalization passed $1 trillion last week after Hertz announced it was buying 100,000 Tesla vehicles to add to its rental fleet—which would give Tesla $4.2 billion in cash, Bloombergreported. Shares closed at a record $1,208 on Monday, giving Tesla a $1.2 trillion market cap and Musk a net worth of $315 billion.
In a press release last week, Hertz claimed that rental Model 3s would start rolling out in major cities by early November. But Musk posted a tweet on Monday night that cast doubt on the mega-deal. “I’d like to emphasize that no contract has been signed yet ... Hertz deal has zero effect on our economics,” he wrote. By Tuesday morning, Tesla’s record ascent had reversed, and shares were down as much as 4% at the market open. The stock rebounded slightly by the early afternoon, closing Tuesday down 3% at $1,172 per share. That shaved about $8.6 billion off of Musk’s net worth from the day before.
A spokesperson for Hertz maintains that the deal is on. “As we announced last week, Hertz hasmade an initial order of 100,000 Tesla electric vehicles and is investing in new EV charging infrastructure across the company's global operations,” the century-old rental car company wrote in a statement shared withForbes. “Deliveries of the Teslas already have started.”
The majority of Musk’s fortune is tied up in his 23% stake in Tesla, which he first backed in 2004, a year after it was founded. He also holds a significant share of his privately held rocket company SpaceX, which was valued at about $74 billion in a February 2021 funding round.
The South African-born entrepreneur is the richest person in modern history, and he’s quickly leaving fellow billionaires in the dust. Jeff Bezos, the second-richest person in the world, is currently worth about $190.3 billion, Forbes estimates, down from a $212 billion peak in July. Bill Gates’ net worth briefly passed $100 billion in April 1999. Adjusted for inflation, that’s just over $165 billion today—some $142 billion less than Musk is worth now. Today, Gates is worth an estimated $137.8 billion.
Editor’s note: This post has been updated to reflect the closing stock price of Tesla and Musk’s corresponding net worth on November 2, 2021.
Bezos reclaimed the top spot the following month. On September 27, 2021, after Tesla stock surged, Forbes announced that Musk had a net worth of over $200 billion, and was the richest person in the world. In November 2021, Musk became the first person to have a net worth of more than $300 billion.
Elon Musk loses title as world's richest person to LVMH patriarch Bernard Arnault, paying the price for January rout in Tesla stock. Elon Musk's personal fortune took a heavy hit after shares in Tesla lost a quarter of their value in the span of less than a month.
Musk reported lost about $182 billion of his net worth since November 2021, according to Guinness, which cited Forbes. Some estimate he lost up to $200 billion, Guinness said at the time. The 2022 dip was also attributed to poor performance of Tesla stock, which plummeted 65% in 2022, according to Guinness.
“At current rates, it will take 230 years to end poverty, but we could have our first trillionaire in 10 years,” states the report, which highlights the growing inequality alongside the staggering net worth of the five men.
A trillionaire is an individual with a net worth equal to at least one trillion in U.S. dollars or a similarly valued currency, such as the euro or the British pound. Currently, no one has yet claimed trillionaire status, although some of the world's richest individuals may only be a few years away from this milestone.
As of today, no billionaire is within striking distance of becoming a trillionaire. Elon Musk is, at present, the world's richest person, with a net worth of $206 billion, while Jeff Bezos is in the number two position with $179 billion, according to Bloomberg.
For Ronaldo, his huge social media following, Nike CR7 brand and sponsorships deals with likes of Tag Heuer, EA Sports and Sacoor Brothers have helped him amass an estimated fortune of $450 million. Messi, on the other hand, is worth just less than his old foe - an estimated $400m.
Key Takeaways. Bernard Arnault, chairman of LVMH, is the richest person and the richest man in the world with a net worth of $215 billion. After Arnault is Jeff Bezos, founder of Amazon.
Jeff Bezos has reclaimed the title of the richest person on earth, surpassing Elon Musk, according to the Bloomberg Billionaires Index on Monday. The Amazon founder's net worth was $200 billion, while Musk followed at $198 billion.
Who is the richest man in the world? As of May 1, 2024, the richest person in the world is Bernard Arnault, the CEO of French luxury goods group LVMH; he's worth nearly $209 billion. He moved into the number one spot in late January 2024, overtaking Elon Musk.
According to Forbes, there are more billionaires than ever before (141 more than last year and 26 more than the 2021 record), with their collective worth reaching $14.2 trillion. Swift's inclusion comes after Forbes declared the singer a billionaire in October 2023 and reported her net worth at $1.1 billion.
The business mogul and his first wife, Wilson, share twins Griffin and Vivian, born in 2004. The birth of their twins came after the couple had a son named Nevada in 2002 who died from sudden infant death syndrome.
Tesla's CEO, Elon Musk, owns the most shares of Testla, with roughly 20%. Other big investors are asset management companies Vanguard Group, Blackrock, and State Street Corporation.
McCormick of the Delaware Court of Chancery on Tuesday ordered Tesla to cancel stock options awarded to Mr.Musk, the electric car company's chief executive, worth about $50 billion. Now the company's directors must figure out a new compensation plan that can pass legal muster and satisfy Mr.
Early Wednesday he crossed a milestone previously unseen in the nearly four decades Forbes has been tracking net worths: With Amazon stock edging up 2% as of Wednesday afternoon, Bezos' net worth is up by $4.9 billion, making the 56-year-old the world's first-ever person to amass a $200 billion fortune.
Rockefeller became the world's first confirmed billionaire. It wasn't until 1999 when the world saw its first centibillionaire, when Bill Gates' net worth, however briefly, surpassed $100 billion.
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