Bezos, beware! Elon Musk became the fifth richest man in the world

• 2020-07-22
• Traiding Idea

Bezos, beware! Elon Musk became the fifth richest man in the world

The net worth of Elon Musk, CEO of Tesla and SpaceX, exceeded $ 74 billion today. According to the Forbes' billionaires list, Elon Musk's fortune has almost tripled since mid-March, making him the fifth richest man in the world.

The 49-year-old businessman, who was ranked 31st in the world in early March with a net worth less than $ 25 billion, is now outpaced former Microsoft CEO Steve Ballmer and Warren Buffett, chairman of Berkshire Hathaway.

He joins the top four moguls: Facebook's Mark Zuckerberg ($ 90.3 billion), Microsoft's Bill Gates ($ 113.4 billion), LVMH's Bernard Arnault ($113.8 billion), and Amazon's Jeff Bezos ($189 billion). 

"I really couldn't care less," Musk told Forbes in an email earlier this month about his net worth. "These numbers rise and fall, but what really matters is making great products that people love."

Tesla stock rose 60 % in just three weeks since June 29, and have tripled in value this year alone. It is currently the most valuable car company in the world.

Tesla becomes the 10th largest US company

Shares of US electric car maker Tesla hit a record high of $ 330 billion. Investors are still hoping that the company's stock will join the S&P 500 index.

Shares of Tesla, which closed at an all-time high on Friday, jumped another 12 % on Monday, making it the tenth-largest US stock by market value, surpassing Procter & Gamble.

If the company published its profitability in 4 consecutive quarters, it would be eligible for inclusion in the benchmark. This is what investors expect to happen with the markets closing on July 22 and releasing the company's quarterly earnings report.

Tesla stock jumped more than 40% in July alone. This came after Tesla reported that despite a six-week shutdown, the company was able to deliver 90,610 cars to its customers, which was far beyond what was expected.