Written by 8:19 pm Business, Cars, News Views: 0

Elon Musk Becomes the World’s Third-Richest Man: He’s Displaced a Big Name

Elon Musk is now the third richest person in the world

Slow down! Musk. At least give us some time to catch our breath.

It has become increasingly challenging to keep pace with Musk’s massive strides this year. 

Only two weeks ago, he became the fourth richest man on the planet. Now, he’s kicked Facebook CEO Mark Zuckerberg to the curbs. 

Hello! Bill Gate. We see you looking behind you. 

Yeah! Musk is less than $10billion away, and that’s not a broad margin for a man who has amassed $87.8 billion just this year.  

The upswing

After Monday’s stock split, Tesla’s stock price experienced an upsurge. 

This increase led to Musk’s movement up the World’s Richest Men chart. 

Tesla’s stock price has experienced a 500% increase this year amidst the COVID-19 pandemic. 

Mark Zuckerberg goes down to fourth place as Musk moves up the chart

Now sitting in fourth place – with a supposedly gloomy face – is Mark Zuckerberg with $110.8 billion. 

On the brighter side of the chart, Elon Musk sits in third place with $115.4billion. Little wonder he’s been grinning all over the place.

Well, he always has been. 

Elon Musk wears a wild grin as he climbs up the chart

Bill Gates is currently worth an estimated $125 billion. Judging from where Musk is standing at the moment, it’s not a very far stretch. 

However, standing right on top of the leaderboard is Jeff Bezos, whose wealth exceeded the $200 billion mark last month.

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Bezos and ex-wife Scott lead their respective charts 

Jeff Bezos currently has a net worth of $202 billion. 

Interestingly, Bezos’s ex-wife Mackenzie Scott also became the world’s richest woman this week

She is now worth $66.4billion just ahead of L’Oreal SA heiress Francoise Bettencourt Meyers. 

It might take a while for Musk to catch up with Bezos – if it ever happens.

However, catching up with or even surpassing Bill Gates on the leaderboard this year seems like a plausible challenge for Elon Musk. 

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Tesla stocks are the new investment eye candy

Tesla stock price have increased by 500% this year

Tesla has benefited immensely from the increase in retail investing since the pandemic. 

Notably, on an online trading platform known as Robinhood Financial, many entry-level investors have had their eyes fixed on Tesla shares. 

Last month, Robinhood recorded that about 40,000 distinct accounts added Tesla shares within four hours on a particular day. 

This pattern is not limited to investors in the United States alone. 

This year, South Korean investors have looked into the American electric vehicle behemoth and have griped a 1% stake of the company. 

After Monday’s five-for-one stock split, Tesla shares were pegged at $498.3 during the trade period. 

As at the time of this writing, Tesla shares in Pre-market trading is quoted as $538.75 (Pre-market High) and $441.71(Pre-market Low). 

Check the real-time quotation here.

Considering that the global economy took a nosedive this year due to the pandemic, it’s mind-boggling that these wealthy men have gathered so much more wealth. 

What do you think about Elon Musk’s booming net worth? Let us know in the comment section.

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