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Saturday, November 16, 2024

Home Top News Elon Musk becomes third richest person in world

Elon Musk becomes third richest person in world

by News desk
November 19, 2020
in Top News

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News Desk

Elon Musk, the chief executive officer of the electric car company Tesla has leapfrogged Facebook’s Mark Zuckerberg and has now become the third-richest person in the world. The tech mogul’s fortune swelled by more than $15bn (£11.3bn) in a single week after Tesla’s shares jumped 13% following the news of its selection to join the S&P 500 index of leading US companies. Musk, who owns 20% of Tesla’s shares and founded rocket company SpaceX, has experienced an increase of about $90bn in his fortune so far this year. According to The Guardian, Tesla has the highest market value of any car company in the world – ahead of Toyota, Volkswagen and General Motors – despite making just a fraction of the number of vehicles.