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Sunday, May 28, 2023

Elon Musk Now 3rd Richest in the World After Tesla Stock Split

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Elon Musk is now the third-richest person in the world.

Musk passed Facebook Inc. co-founder Mark Zuckerberg Monday as shares of Tesla Inc. continued their unrelenting rally after undergoing a  stock split. Musk is now worth $115.4 billion compared with $110.8 billion for Zuckerberg, according to the Bloomberg Billionaires Index.

Musk, 49, has seen a meteoric rise in his wealth, with his net worth growing by $87.8 billion this year as Tesla shares surged almost 500 percent.

Tesla’s $464 billion market value now exceeds that of retail behemoth Walmart Inc, the largest company in the U.S. by revenue.

Musk still has a long way to become the world’s richest person. Amazon’s Bezos is worth more than $200 billion.

Tech stocks have been on a tear lately a sign of the shift in the industry.

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