There is no limit for Elon Musk as he achieves yet another milestone by becoming the Fourth Richest Man in the World, recently, with $8 billion added to his earnings after Tesla's stock rose 11.2 percent last Monday, August 17.
Bloomberg reports an increase in the self-made billionaire and CEO of Tesla and SpaceX's net worth to about $84.8 billion in total. This puts Musk near the third-place holder, Facebook CEO Mark Zuckerberg, with only $15 billion short.
Bloomberg's Billionaires Index reports that Musk overtook the fourth spot, formerly held by a French business magnate known for his Chief Executive position at Louis Vuitton, Frenchman- Bernard Arnault. Arnault is the only non-American to hold a place this high in the billionaire's list.
Tesla's feat in rising stocks contributed mainly to the CEO's net worth to increase and achieve such heights. The electric automotive manufacturer and clean energy company is also a big earner for the year 2020 as its stocks skyrocketed to 339 percent.
Bloomberg also adds that Tesla will soon be included in the Standard and Poor's 500 Index, more commonly known as the S&P 500. The S&P 500 measures the stock performance of 500 large companies listed on stock exchanges in the United States.
Elon Musk's fortune is reported to be the second-largest increase on the index with $57.2 billion as new revenue. He precedes Amazon.com CEO, Jeff Bezos, who grew his fortune a total of $73 billion for the year 2020 only.
On the other end of the spectrum, global media company, Forbes, ranks Tesla CEO fifth in the all-time wealthiest people in the World. Forbes' World's Billionaire List positions him at fifth, a rank he currently held, lost, and held again today.
Forbes said that Musk is on par with India's Mukesh Ambani that primarily gets his earnings from gas and oil. Tesla is reported to have a 32 percent increase just this week that bumped Musk again back to fifth. Musk more than tripled his company's stocks and earnings only this March and continues to do so.
Elon Musk told Forbes that he couldn't care less about the money and is focused on bringing people products that they would "love." Wedbush Analyst, Dan Ives, also shared his insights, saying that Tesla's Shanghai factory will continue to increase the earnings and stocks of the company.
PALO ALTO, CA - NOVEMBER 05: A Tesla Model S car is displayed at a Tesla showroom on November 5, 2013 in Palo Alto, California. Tesla will report third quarter earnings today after the closing bell. (Photo by Justin Sullivan/Getty Images)
China currently has a great demand for the electric vehicles which the company manufactures and famous for. The upcoming Tesla 'Battery Day' on September 22 will also help increase Musk and the company's earnings due to "game-changing" announcements set to be unveiled.
Elon Musk's Portfolio
CAPE CANAVERAL, FL - MAY 27: Elon Musk, founder and CEO of SpaceX, participates in a press conference at the Kennedy Space Center on May 27, 2020 in Cape Canaveral, Florida. NASA astronauts Bob Behnken and Doug Hurley were scheduled to be the first people since the end of the Space Shuttle program in 2011 to be launched into space from the United States, but the launch was postponed due to bad weather. (Photo by Saul Martinez/Getty Images)
Elon Musk gains revenues from a variety of managed companies with the likes of Tesla, SpaceX, Starlink, and more. Through Musk's career, he has created a vast and impressive portfolio that contributed to his earnings and fame.
Investopedia dubs Musk as the "real-life Tony Stark" known to be eccentric and comedic in nature. Apart from that, Elon Musk founded several tech companies that were bought by other companies with the likes of eBay, Google, Dell, and Compaq. The most notable of all is eBay's PayPal, an electronic online payment system accessible all-around the World.
Musk owns or is a major shareholder in companies such as Tesla, SolarCity, SpaceX, The Boring Company, Starlink, Hyperloop, and Neuralink.
