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  • 05 February 2020
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Elon Musk is charging up his fortune. The Tesla chief’s net worth has grown more than any other billionaire’s so far this year amid a massive stock boom for his electric-car company.

Musk added $4.7 billion to his fortune on Monday, when Tesla’s share price surged nearly 20 percent to close at a new high of $780, according to Bloomberg’s Billionaires Index. His wealth has ballooned by a total of $13.5 billion, or 48.9 percent, since the start of the year — an increase larger than anyone else on Bloomberg’s list of the world’s richest people.

Musk’s wealth has grown even more than Bezos, who remains the world’s richest person with a net worth of $124 billion. Bloomberg says the e-commerce tycoon has added about $9 billion to his fortune for the year despite a roughly $15 billion increase after Amazon reported massive earnings last week, which sent its stock price soaring. Musk owns about 20 percent of Silicon Valley-based Tesla and his stake in the company, including options, accounts for about $30 billion of his fortune, according to Bloomberg. Another $14.6 billion comes from his ownership of the rocket company SpaceX. He also has $101 million from his infrastructure firm, the Boring Company, and $3.6 billion in various liabilities, Bloomberg says.

This post first appeared here




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