The Limited Times

Now you can see non-English news...

Tesla shares rally: Elon Musk's fortune jumps over $ 302 billion

2021-10-30T11:02:22.270Z


The price rally of Tesla shares has driven Tesla CEO Elon Musk's fortune above the $ 300 billion mark. The second richest man in the world, Amazon founder Jeff Bezos, follows by a long way behind Musk.


Enlarge image

Runs for him: Tesla boss Elon Musk on a visit to the construction site for his new factory in Grünheide, Brandenburg

Photo: MICHELE TANTUSSI / REUTERS

If there was still need for proof that the development on the stock exchanges has broken away from reality, the electric car group Tesla should have provided it this week: After the car rental company Hertz announced the order for 100,000 Tesla vehicles had, the - already quite high - price of the group shot up.

For Tesla boss Elon Musk, this had the side effect that he - at least on paper - became wealthier by a whopping 36 billion dollars practically overnight because his Tesla shares also appreciated so much in value.

To put it into perspective: That is more than the Porsche group is worth as a whole.

Musk outclasses Bezos

Converted to the Hertz order, each of the 100,000 cars made Musk richer by 360,000 dollars.

If you include the option, which is also included in the contract, to double the order to 200,000 vehicles, the amount is still at 180,000 dollars per car - and thus well above the list price of the Tesla ordered.

Because the price of Tesla shares rose sharply for the rest of the week, Musk's total assets have now even exceeded the $ 300 billion mark for the first time, according to calculations by the financial news service Bloomberg (the "FAZ" reported on it first).

On Friday afternoon, the news agency estimated the value at exactly $ 302 billion.

In this list, by the way, Amazon founder Jeff Bezos follows in second place with "only" 199 billion dollars.

Exactly a year ago, Bezos was still clearly at the head of the world's billionaire wars ($ 187 billion).

Musk followed in third place with $ 102 billion at the time.

His assets - which are heavily dependent on the current market value of his company shares - rose by 200 billion dollars within a year.

That's an increase of more than $ 500 million per day.

trembling

Source: spiegel

All news articles on 2021-10-30

You may like

News/Politics 2024-01-31T04:38:57.092Z

Trends 24h

News/Politics 2024-03-28T06:04:53.137Z

Latest

© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.