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Elon Musk’s worth climbs to $ 304billion to become the World’s richest man

world's richest man

Elon Musk, the world’s richest man has started the new year richer by adding$32.6 billion to his net worth bringing his fortune to $304.2 billion.

According to Forbes, the billionaire-who’s also the founding father behind the commercial space enterprise SpaceX, remained at the top of the world’s rich list going into the new time.

In alternate place and$103.6 billion behind Musk is Bernard Arnault, the CEO of French fashion conglomerate LVMH. Amazon founder and former-CEO Jeff Bezos sits in third place, Forbes said.

Tesla’s soaring stock price has again been credited for the South African’s growing wealth.

On Sunday, the electric car producer declared it had delivered further than cars in 2021, surpassing projections by analysts, but also posted that the company had recalled of its cars constructed between 2014 and 2021.

Forbes said Tesla shares increased by more than 13 percent by market close, with the company’s market capitalisation again beating the$ 1 trillion mark, after dropping below that position last month.

As CEO of Tesla, Musk, who was named Time Magazine’s 2021 Person of the Year owns about15.6 percent of the company’s stock.

He has continued to sell shares, finishing the year having disburdened 3 million shares on the open market in order to cover the tax bills on around5.7 million stock options that he exercised at the same time.

Musk reportedly sold15.7 million Tesla shares over the course of 2021- worth more than$ 16 billion before tax.

His fortune jumped further than$ 200 billion over 2020 and 2021. In 2021 alone, he added$ 116 billion to his net worth.

This, Forbes said, is the biggest one- year gain by any billionaire since the news outlet began tracking the wealth of high net- worth individualities.

Musk is set to earn another benediction later this month when Tesla reports its fourth- quarter-earnings.However, the world’s richest man is set to become indeed richer, If the company meets certain operational and valuation ambitions.

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Written by Editorial Staff

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