Tesla CEO Elon Musk: The world’s richest man Elon Musk’s net worth increased by $36.2 billion in a single day on Monday. This is the biggest single-day jump in the net worth of a rich in the history of the Bloomberg Billionaires Index. The reason for this is the order of one lakh vehicles received by his company Tesla from Hertz Global Holdings.
Before Musk, Chinese Billionaire Had a Record
By the way, this record was in the name of Chinese billionaire Zhong Shanshan before Elon Musk, co-founder and CEO of electric vehicle maker Tesla Inc. His net worth had increased by a record $32 billion in a single day last year. This happened on the day of the listing of his bottled water company Nongfu Spring Company.
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Elon Musk’s Net Worth is $289 Billion
Tesla shares jumped 13% on news of an order from Hertz. Due to this the market value of the company has crossed one trillion dollars. Currently, Musk’s net worth is $289 billion, which is much higher than the market value of Exxon Mobil or Nike. One-third of Musk’s net worth comes from his shareholding and options in Tesla.
Government will Take Billionaires Income Tax from Big Riches
In terms of net worth, Musk continues to overtake compatriot Amazon Inc. boss Jeff Bezos. According to Bloomberg’s Billionaires Index, Bezos is at number two with a net worth of 193 billion. The interesting thing is happening in the midst of all this that the US government is going to impose a special income tax on the big riches.
No One is So Rich
According to Forbes magazine’s Real Time Billionaires Index, at the time of the US stock market closing on Monday, Musk’s net worth was $255.2 billion, up 11.4 percent from Friday evening. Such a property probably never has been with any person till now. His wealth has increased by $ 25.6 billion in a single trading session of the stock market.
Net worth Increased by Billions of Dollars
The Billionaires Income Tax will apply to US taxpayers who have a net worth of $1 billion or an income of $100 million or more for three consecutive years. Musk’s net worth jumped by billions of dollars but the interesting thing is that the value has increased on paper and he has very little liquid assets.
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There are Trillionaires But Musk Doesn’t Have Much Cash
He does not take any salary from Tesla and according to the company’s information to the regulator, a part of his shareholding has been pledged for a personal loan. He told a federal jury in 2019 that he was a trillionaire, but he didn’t have much cash. Last year, he had announced to sell his house and property on Twitter.
Stock Option Conversion Increased Net Worth by $8 Billion
Musk’s net worth has been increasing since before the Hertz deal. Tesla shares have risen 45% in value this year, more than double the S&P 500’s return. The jump in Musk’s net worth isn’t the only reason the company’s stock prices have risen. His net worth has jumped by about $8 billion in 2018 after his stock options were converted into shares.