After adding tens of billions to his net worth, Elon Musk became the first person to have more than $300 billion to his name.
According to the estimates of ForbesMusk’s net worth was $306.4 billion Tuesday afternoon, after crossing the $300 billion mark on Monday as Tesla stock continued to fall.
Bloomberg reported that the electric car company’s market capitalization topped $1 trillion last week after Hertz announced the purchase of 100,000 Tesla vehicles to supplement its rental fleet. A $4.2 billion deal paid entirely in cash. Shares closed at a record high of $1,208 on Monday, giving Tesla a market capitalization of $1.2 trillion and Musk has a net worth of $315 billion.
In a press release last week, Hertz said rental Model 3s will begin to be available in major cities in early November. But Musk posted a tweet Monday night that cast doubt on the mega-deal. “I would like to point out that no contract has yet been signed […]. The deal with Hertz has no effect on our economy,” he wrote.
By Tuesday morning, Tesla’s record climb had reversed, and shares were down as much as 4% at the market’s open. The stock rebounded slightly in the early afternoon, closing Tuesday down 3% to $1,172 per share. This reduced Musk’s net worth by approximately $8.6 billion compared to the previous day.
A Hertz spokesperson maintains the deal is closed. “As we announced last week, Hertz has placed an initial order for 100,000 Tesla electric vehicles and is investing in new EV charging infrastructure across the company’s global operations,” the century-old car rental company wrote in a statement shared with Forbes. “Deliveries of the Teslas have already started”.
The majority of Musk’s fortune is tied to his stake in 23% in Tesla, which he first supported in 2004, a year after its creation. He also owns a large share of his private rocket company SpaceXwhich has been estimated at approximately $74 billion during a round table in February 2021.
The South African-born entrepreneur is richest person in modern history. According to Forbes, Jeff Bezos, the second richest person in the world, is currently worth around $190.3 billion. A figure down from the peak of 212 billion dollars reached in July. Bill Gates’ net worth briefly topped $100 billion in April 1999. Adjusting for inflation, that’s just over $165 billion today, or $142 billion less than the net worth. by Mr. Musk. Today the value of Bill Gates is estimated at $137.8 billion.
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