Elon Musk's One Day Wealth Gain Is Insanely Astronomic

26 Oct, 2021 11:18 IST|Sakshi Post

After Hertz Global Holdings placed an order for 100,000 Teslas, the personal fortune of Tesla CEO Elon Musk increased by Rs. 2.71 lakh crore on Monday. Tesla shares jumped as much as 14.9% to $1,045.02. Tesla stock hit $1024.86 and now it became the sixth company to achieve the $1 trillion record. Another important news is that it is the only carmaker to own this record to date. Till now, Amazon, Apple, Alphabet, Facebook, and Microsoft have crossed this valuation. The wealth of Elon Musk rose to $288.6 billion Monday, according to the Bloomberg Billionaires Index.

According to Refinitiv, Elon Musk's 23% stake in the company is now worth about $289 billion. He is the major shareholder and CEO of rocket maker SpaceX, a private company. Elon Musk’s total net worth of $288.6 billion is now greater than the market value of Exxon Mobil Corp. or Nike Inc.

Who Is Elon Musk?

Elon Musk is an entrepreneur and business magnate. He is the founder, CEO, and Chief Engineer at SpaceX; CEO, and Product Architect of Tesla, Inc.; founder of The Boring Company; and co-founder of Neuralink and OpenAI. Musk is the richest person in the world as of September 2021.

In 2002, Musk founded SpaceX, an aerospace manufacturer, and space transport services company, of which he is CEO and CTO. In 2004, he joined electric vehicle manufacturer Tesla Motors, Inc. (now Tesla, Inc.) as chairman and product architect, becoming its CEO in 2008. In 2006, he helped create SolarCity, a solar energy services company that was later acquired by Tesla and became Tesla Energy. In 2015, he co-founded OpenAI, a nonprofit research company that promotes friendly artificial intelligence. In 2016, he co-founded Neuralink, a neurotechnology company focused on developing brain–computer interfaces and founded The Boring Company, a tunnel construction company. Musk has proposed the Hyperloop, a high-speed vactrain transportation system.

More News
Entertainment