Make room, Jeff, Invoice and Mark: the 12-digit membership has a brand new member.
Elon Musk’s fortune crossed the $100 billion mark on Friday as Tesla’s shares continued a dizzying rally that has seen the corporate’s market cap greater than quadruple this 12 months.
The South Africa-born chief govt has now adopted Amazon’s Jeff Bezos, Microsoft founder Invoice Gates and Fb CEO Mark Zuckerberg to change into the fourth one that is at present worth greater than $100 billion.
Tesla shares, which first went public a decade in the past at $17 a pop, rose as a lot as 3.5 % Friday morning to a file excessive of $2,318.49.
Musk is now worth $104.7 billion, in keeping with the Bloomberg Billionaires Index, and is sizzling on the heels of fellow centabillionaire Zuckerberg and his $110.eight billion fortune.
Musk earlier this month grew to become the fourth-richest man on earth after a surge in his electrical automaker’s shares helped him leapfrog French luxurious titan Bernard Arnault, who was beforehand a member of the $100 billion membership however now sits at $86.2 billion, in keeping with Bloomberg.
Musk has added added greater than $75 billion to his fortune for the reason that starting of the 12 months as Tesla shares have soared amid rising manufacturing and demand for its electrical automobiles.
Tesla grew to become the world’s most respected carmaker by market capitalization when it overtook former entrance runner Toyota on July 1. The corporate now accounts for greater than 40 % of the entire market cap of a gaggle of 12 of the world’s largest automakers.
Shares of Tesla had been flat in Friday afternoon buying and selling, at $2,238.15.