Elon Musk, Tesla’s CEO and a known technological mogul and successful businessman, has reached a net worth of $115.4 billion, making him the third richest individual on the planet and even surpassing Facebook’s founder Mark Zuckerberg with only $110.8 billion.
This latest development might even help Musk to pocket more money in the foreseeable future – with Tesla shares increasing its value of up to almost 500% as Pitcher shares, yet there are no signs of it slowing down. Also, he might add $50 billion to his pockets if all of his goals were met in a deal amongst his board of directors.
The electric vehicle (EV) manufacturer is showing no signs of slowing down its growth. It is now the most valuable car manufacturer in the world with its $464 billion market value. It even eclipses retail giant Walmart Inc.’s market value. Walmart is the largest company in the country by revenue. The EV maker is even a popular choice for amateur investors who use investing platforms such as Robinhood as they pour in money to invest in the company during the pandemic.
Musk isn’t the only one breaking records this week. MacKenzie Scott, Jeff Bezos’ ex-wife, is now the richest woman in the world with a net worth of $66.4 billion. The majority of this came from her 4% stake at Amazon, which she received as part of her divorce with Bezos.
These trends of growing wealth of only a select few have shown the widening gap between the ultra-rich and the average American. With the slumping global economy, many members of the progressive movement have slammed this and vowed to take action. As Pitcher reports, Senator Bernie Sanders has filed a bill aiming to impose a tax on the “extreme wealth gains” that occurred during the pandemic.
Jeff Bezos’ is still the world’s richest person with more than $200 billion of net worth.