"Elon Musk's net worth has surged to a record $648 billion - and his wealth gain this year exceeds LVMH CEO Bernard Arnault's entire $205 billion fortune, the Bloomberg Billionaires Index shows. The Tesla and SpaceX CEO's wealth has jumped by $178 billion in just two days, boosting his year-to-date gain to an unmatched $216 billion. If that figure were his entire fortune, he would rank sixth on the rich list."
"Musk's record wealth partly reflects Tesla stock closing at an all-time high of $490 on Tuesday, as investors cheered news that the EV maker is testing driverless robotaxis on Austin, Texas streets. Musk holds a roughly 12% stake in Tesla, valued at around $200 billion. But the bigger driver of his wealth surge this week has been SpaceX's valuation reportedly doubling since the summer to $800 billion, based on a secondary share sale by the aerospace company ahead of a potential IPO next year."
Elon Musk's net worth reached a record $648 billion, driven by Tesla's all-time high stock price and a soaring valuation for SpaceX. Musk's fortune increased by $178 billion in two days and $216 billion year-to-date. Tesla closed at $490, and Musk owns roughly a 12% stake in Tesla valued near $200 billion. SpaceX's valuation reportedly doubled to about $800 billion after a secondary share sale ahead of a potential IPO. Musk now ranks far ahead of other billionaires, more than twice Larry Page and over four times Warren Buffett, and exceeds several major companies' market values.
Read at Business Insider
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