After the Tesla split, Elon Musk is now richer than Mark Zuckerberg

Elon Musk has now surpassed Facebook founder Mark Zuckerberg to become the third richest person in the world.

This was achieved after the Tesla stock split, plus the stock’s relentless rise that followed. Now, according to the Bloomberg Billionaires Index, Musk is worth $ 115.4 billion, while that of Zuckerberg is just $ 110.8 billion.

In a catastrophic year for the world, Musk saw his net worth add $ 87.8 billion as Tesla’s shares soared almost 500% this year. Tesla’s positive business metrics also contributed to Musk’s growing wealth, as he could win a bonus of up to $ 50 billion if all business goals are met.

Currently, Tesla is one of the preferred stocks for amateur investors on Robinhood Financial’s online trading platform. Therefore, Tesla is the biggest beneficiary of the boom of retail investors at the time of the blockade.

In the past month, there was a time when it recorded nearly 40,000 Robinhood accounts rushing to buy Tesla over a period of 4 hours. Not only in the US, this trend is spreading to South Korea as a series of retail investors are also rushing into Tesla and they currently hold up to 1% of the US car maker.

Now, Tesla’s market cap has reached $ 464 billion, surpassing retail giant Walmart, the US company with the largest revenue today.

Last week, Musk, along with Zuckerberg, Bezos and Microsoft co-founder Bill Gates, joined the rare “hundred billion dollar” club where technology stock prices soar.

The technology industry’s rapid pace of asset accumulation is in stark contrast to the gloomy world economy. Economic growth has fallen sharply since the beginning of the pandemic, with companies laying off millions of workers, leading to a decline in consumer demand. The burden of economic pain is on young low-paid workers whose jobs are more vulnerable to Covid-19’s layoffs.

Despite the strong momentum mentioned above, Musk still has a long way to go if he wants to surpass Jeff Bezos’ $ 200 billion fortune to become the richest man in the world. The rise in Amazon shares also made Bezos’ ex-wife MacKenzie Scott become the richest woman in the world with a fortune of $ 66.4 billion.

Consult Bloomberg