Elon Musk Becomes World’s No.3 Richest Man With $115Billion

Tesla CEO Elon Musk

Elon Must, CEO and founder of Space-X, Tesla and others has seen a $90billion increase in wealth this year alone.

Elon Musk’s net worth is now $114Billion, pushing him past Facebook CEO Mark Zuckerberg on the world’s list of richest people.

The massive increase in Musk’s wealth came as a result of Tesla’s (TSLA) wild 12% stock gain that happened Monday after Tesla’s 5-1 stock split.

This has placed the Tesla boss at the No. 3 richest person in the world, only poorer than Bill Gates and Jeff Bezos. Elon Must has attained a feat which would have seemed impossible in such a short time.

The world’s top five billionaires (in order) are: Jeff Bezos, Bill Gates, Elon Musk, Mark Zuckerberg and Bernard Arnault, the CEO of LVMH in France.

Elon Musk does not get paid in salaries or cash, instead the tech CEO the CEO gets paid in millions of stock options, worth billions of dollars.

He has received two multi-billion-dollar payouts as the company hit certain profit and stock price thresholds, and he is due to receive another soon.

Elon Musk is the largest share holder in Tesla with 18%, putting him at 3 times larger than the next largest share holder in the company. Therefore, as the company stocks grows, Elon’s wealth also skyrockets .

 In January 2020, Musk’s net worth was about $32 billion, with half of that wealth composed of Tesla shares, according to Forbes and Bloomberg estimates at the time.

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