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Elon Musk passes Mark Zuckerberg to change into world’s third-richest man

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September 1, 2020 | 12:37pm | Up to date September 1, 2020 | 1:58pm

Mark Zuckerberg’s reign because the third-richest man on Earth didn’t final lengthy.

The Fb CEO misplaced his grip on the No. three spot this week after Tesla boss Elon Musk’s wealth soared to new heights, capping a rally that has seen him add a staggering $87.eight billion to his fortune this yr.

Musk — price $115.four billion — now trails solely Amazon CEO Jeff Bezos and Microsoft’s Invoice Gates within the wealth rankings. Bezos’ internet price just lately topped $200 billion, whereas Gates is price $124.eight billion, in line with the Bloomberg Billionaires Index.

Zuckerberg, who just lately grew to become a centabillionaire, is price $110.eight billion.

Musk has seen his fortune develop greater than anybody else this yr, narrowly beating out Bezos, whose personal internet price is up $87.6 billion as stuck-at-home shoppers have turned to Amazon for all their procuring wants.

Tesla’s shares have been on a dizzying rally this yr that has seen the corporate’s market cap greater than quadruple.

The electrical automaker on Monday underwent a 5-for-1 inventory break up, sending its share worth up greater than 12 %. Tesla’s market cap now sits at $457.four billion.

Tesla grew to become the world’s most respected carmaker by market capitalization when it overtook former front-runner Toyota on July 1. The corporate now accounts for greater than 40 % of the full market cap of a bunch of 12 of the world’s largest automakers.

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