Business News : Elon Musk, the world’s richest businessman, is constantly creating new records in terms of wealth. About three months ago, in June, he became a trillionaire for the first time since SpaceX’s initial public offering. Since then, his fortune has plummeted, and he has lost more than $600 billion. Now, the shares of his companies have seen a rise again, and the figure has crossed the one trillion mark once again. On Monday, his wealth increased by $65 billion or Rs.6.26 lakh crore. Let us also tell you what figures have been revealed in the Bloomberg report.
Elon Musk became a trillionaire again
Elon Musk has become a trillionaire again. According to the Bloomberg Billionaires Index, on Monday, the wealth of the world’s richest person increased by Rs65 billion to Rs1.04 trillion. Significantly, his wealth has increased by $589 billion in the current year. Significantly, the wealth of the world’s second and third richest businessmen Larry Page and Jeff Bezos would not be worth much if combined. Page and Bezos have a combined net worth of $571 billion. This shows how much Elon Musk’s net worth has increased this year. According to Bloomberg data, Elon Musk’s net worth has increased by 120 percent this year.
Shares of Tesla and SpaceX soar
The biggest reason for Elon Musk’s rise in shares is the rise in shares of SpaceX and Tesla. On Monday, SpaceX shares rose 7.63 percent, while Tesla shares gained 2.20 percent. SpaceX shares rose 13.4 percent in October alone, while Tesla shares rose 7.64 percent. This is the reason why Elon Musk’s wealth has increased. Musk owns more than 98% of his net worth in SpaceX and Tesla, according to Bloomberg’s Wealth Index.
Morgan Stanley expressed confidence
Recent gains have been driven by renewed confidence in both companies. On Monday, a Morgan Stanley analyst called SpaceX the cheapest way to take advantage of the “strong alternative” of the space and intelligence sectors. This led to a further rise in the stock. Shares of the space, artificial intelligence and social media company have recovered 58% from August lows. Last week, Tesla reported better-than-expected third-quarter sales.
Trillionaire for the second time in three months
For the first time in three months, the 55-year-old tech giant’s net worth has crossed $13 trillion. He became the world’s first trillionaire when shares soared after SpaceX’s record-breaking IPO in June, but quickly lost ground as shares fell amid concerns about the company’s overvaluation. By the end of July, Musk’s fortune had fallen more than $600 billion from its peak, more than anyone else on Bloomberg’s list of the world’s 500 richest people.