Elon Musk’s net worth is $300 billion that is now more than ExxonMobil’s
Elon Musk has now leveled up his game in the world billionaire rankings. Musk’s net worth is rapidly reaching a $300 billion mark. This is enough to surpass one of his rivals, fossil fuel company ExxonMobil.
On Monday, Musk’s net worth closed at $289 billion. This huge leap surpasses ExxonMobil’s market cap of $272 billion. With his value, Musk is now worth more than the other billionaires, Warren Buffett and Bill Gates combined.
According to Bloomberg Billionaires Index, Buffet ranks at no.10 with $102 billion net worth. While Gates sits at fourth place with $130 billion. Musk first went over Amazon CEO Jeff Bezos’ worth that led him to become the titleholder of the world’s richest man last January at a net worth of $185 billion.
Elon Musk’s net worth:
Age 50: $289 billion
Age 40: $680 million
Age 30: $22 million pic.twitter.com/v3bcIDsPs3
— Jon Erlichman (@JonErlichman) October 26, 2021
Whether it’s Gates’ and Buffett’s charitable advocacies that led them behind Musk, their huge donations of tens of billions of dollars could have added to their net worth. Which is something Musk is being criticized for, his non-sharing of his riches in philanthropic giving.
Although Musk has said before that he prefers to remain silent when sharing away his fortune. Earlier this year he even posted on Twitter asking for critical feedback on how he can help and donate. But this year, Musk was bound to give $150 million which includes $100 million worth of prizes for a carbon removal contest.
Musk’s net worth attributes
While Musk’s sudden leap in net worth can be associated with Influential Morgan Stanley analyst Adam Jonas, it is more attributed to Tesla’s raised market cap.
1995:
Elon Musk fixed his 1978 BMW with old parts from a junkyard.
2021:
Elon Musk’s net worth is 4 times more than BMW’s market value. pic.twitter.com/teaPc0a3tu
— Jon Erlichman (@JonErlichman) October 21, 2021
With Hertz’s announcement of acquiring 100,000 Tesla units, the automaker’s market cap soars to $1 trillion. The estimated value of Hertz’s order is more than $4 billion. This lifted Tesla’s stock by 0.9% higher.
In addition, auto analyst Adam Jonas contributed to the rise of Tesla’s stock. After raising his price target for Tesla at $1200 a share, Tesla’s stock climbs more than 12% on Monday.
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Moreover, Musk has additional fortune this year. More than $60 billion was added to his fortune through Tesla’s strong sales and SpaceX share sales. SpaceX’s contribution raised the company’s value at $100 billion. All in all, adding $11 billion to Musk’s worth.
With Wall Street’s outlook about EV’s future, it has certainly pushed Tesla’s market value. Which makes it worth more than the 11 largest world automakers combined. Tesla is now worth three times more than Toyota. Toyota is the second biggest automaker with a market value of $280 billion.
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