Elon Musk is now worth $100 billion

  27 August 2020    Read: 932
Elon Musk is now worth $100 billion

Tesla CEO Elon Musk has joined the centibillionaires club, Bloomber reported on Wednesday. 

The Tesla billionaire's net worth had officially surpassed $100 billion, following a rallying of Tesla shares.

Simultaneously, Amazon founder and the world's richest person Jeff Bezos' net worth broke the $200 billion mark.

Many of the world's richest people have seen their wealth balloon since the beginning of the year, amid the coronavirus pandemic. Per Bloomberg, the richest 500 people have made a cumulative gain of $809 billion. Musk's wealth has increased by more than $73 billion since January, according to Bloomberg's billionaire index, and Bezos' by $87 billion.

Musk's wealth increase is largely down to Tesla's stock soaring 400% this year. As of June 2020, Musk owned 40.4 million Tesla shares, which would account for $87 billion of his net worth. At the beginning of 2020, Musk owned roughly 38.7 million shares, worth $16.2 billion.

In May, Musk also hit the first in a series of executive milestones that will allow him to eventually unlock a $55 billion bonus package. The first milestone allowed him to unlock one of 12 "tranches" of stock options.

There are currently only two other people in the world whose net worth exceeds $100 billion apart from Musk and Bezos: Bill Gates, worth $124 billion, and Mark Zuckerberg, $115 billion.

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