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Tesla’s Elon Musk Turns Richer Than Facebook Chief Mark Zuckerberg

Elon Musk’s climb in the rankings of the richest people on Earth continues. Just a week ago, he just placed fourth, displacing French business tycoon Bernard Arnault. On August 31, Bloomberg says he is even richer than Facebook’s chief Mark Zuckerberg, reaching third.

Musk’s Growing Fortune

Tesla’s CEO owes its boost in Fortune thanks to his electric vehicle company’s 12 percent increase. The rally comes as Tesla split its stock 5-1, per CNN Business. With this surge, Musk’s wealth amounted to $115.4 billion, Bloomberg estimates on Monday. At that time, Zuckerberg was about $5 billion poorer than the Tesla and SpaceX chief.

Elon Musk's net worth is now $115 billion, pushing him past Facebook CEO Mark Zuckerberg

Posted by CNN Business on Tuesday, September 1, 2020

That makes Musk just behind Amazon’s chief Jeff Bezos, the wealthiest man on Earth and also the first to reach the $200 billion mark, and Microsoft co-founder and philanthropist Bill Gates.

Tesla’s Performance

Tesla performed way better amid the pandemic. It even rose by almost 480 percent this year. The company, just one of several firms managed by Musk, is now worth $450 billion. 

Moreover, Tesla is not only leading the EV market. The electric vehicle maker even surpassed the other most valuable auto companies globally in terms of market cap. Such includes huge rival brands like Toyota.

Musk’s fortune added $87.8 billion for this year alone, Business Insider noted.

Musk on Being Richer

In July, Tesla’s chief exec told Forbes that he does not mind about the size of his fortune, saying: “These numbers rise and fall, but what really matters is making great products that people love.”

Even earlier than that, Musk also claimed that he’d sell almost every physical asset he has. Business Insider recalled that he was previously reported to sell his four properties in Los Angeles, listing for $62.5 million.

His girlfriend even defended Musk’s fortune, citing the chief executive’s investments in research and development in order “to make the world better.” Musk even pledged to give away most of his fortune in his lifetime by singing Giving Pledge.

Richard Madrigal

With a knack for storytelling, Richard started working at Feed Voice about a year ago. Covering substantial topics under the Business and World sections, he helps information seep in deeper with creative writing and content management skills.
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