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World’s richest man, Elon Musk’s worth climbs to $304billion as Tesla stock soars

Musk’s net worth has surpassed £300 billion for the second time, following his initial achievement in November.

He remained at the top of Forbes‘ world rich list as a result of this.

The South African’s ever-increasing riches is due to Tesla’s skyrocketing stock price.

On Sunday, the electric vehicle manufacturer said that it had delivered more than 936,000 vehicles in 2021, exceeding analyst expectations

Elon Musk, the world’s richest man, has increased his net worth by $32.6 billion, increasing his total wealth to $304.2 billion.

According to Forbes, the billionaire – who is also the creator of the commercial space company SpaceX – stayed at the top of the world’s rich list as the new year began.

Bernard Arnault, the CEO of the French fashion conglomerate LVMH, is in second place, $103.6 billion behind Musk. According to Forbes, Amazon founder and former CEO Jeff Bezos is in third position.

The South African’s burgeoning fortune has once again been attributed to Tesla’s skyrocketing stock price.

The electric car maker said on Sunday that it had delivered more than 936,000 cars in 2021, above analyst expectations, but it also announced that 475,000 of its cars made between 2014 and 2021 had been recalled.

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Elon Mask (pictured), the world’s richest man, began the new year with a $32.6 billion increase in his net worth, increasing his total fortune to $304.2 billion.

According to Forbes, Tesla shares rose more than 13% by market close, bringing the company’s market capitalization back above $1 trillion after falling below it last month.

Musk, who was named Time Magazine’s Person of the Year in 2021, holds around 15.6 percent of Tesla’s stock as CEO.

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Musk’s windfall pushed his net worth back above $300 billion, which he briefly surpassed for the first time in November. His wealth has risen as a result of his selection as Time Magazine’s Person of the Year for 2021. (pictured)

He continued to sell stock, ending the year with 3 million shares sold on the open market to meet the tax costs associated with the 5.7 million stock options he exercised at the same time.

Throughout 2021, Musk is said to have sold 15.7 million Tesla shares, worth more than $16 billion before taxes.

Over the years 2020 and 2021, his fortune increased by more than $200 billion. He increased his net fortune by $116 billion in 2021 alone.

According to Forbes, this is the largest one-year rise by any billionaire since the publication began tracking high-net-worth individuals’ fortunes.

When Tesla reports its fourth-quarter earnings later this month, Musk is expected to receive another another windfall. The world’s richest man is likely to become much wealthier if the company accomplishes specific operational and valuation goals.

Forbes’ world top-10 richest people

1. Elon Musk – $304.2 billion

Source: Tesla, Space X 

2. Bernard Arnault – £203.1 billion

Source: LVMH

3. Jeff Bezos – $196.3 billion

Source: Amazon

4. Bill Gates – $137.6 billion

Source: Microsoft

5. Larry Page – $123.7 billion

Source: Google

6. Larry Ellison – $122.6 billion

Source: Software

7. Mark Zuckerberg – $121.1 billion

Source: Facebook

8. Sergey Brin – $119.2 billion 

Source: Google

9. Warren Buffett – $109.5 billion

Source: Berkshire Hathaway

10. Steve Ballmer – $105.4 billion

Source: Microsoft

Data from Forbes, as of January 4 

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