- Elon Musk’s net worth rose above $100 billion on Wednesday, the same day Amazon CEO Jeff Bezos cracked the $200 billion barrier.
- Musk’s personal wealth has soared by $73 billion this year.
- Tesla’s stock has shot up 400% in 2020.
Tesla CEO Elon Musk has joined the centibillionaires club.
Bloomberg on Wednesday reported that the Tesla billionaire’s net worth had officially surpassed $100 billion, following a rallying of Tesla shares.
Simultaneously, the world’s richest person, Amazon CEO Jeff Bezos, saw his net worth break the $200 billion mark.
Many of the world’s richest people have seen their wealth balloon since this year during the coronavirus pandemic. Per Bloomberg, the richest 500 people have made a cumulative gain of $809 billion. Musk’s wealth has increased by more than $73 billion since January, according to the Bloomberg Billionaires Index, and Bezos’ by $87 billion.
Musk’s wealth increase largely comes down to Tesla’s stock soaring 400% this year. As of June, Musk owned 40.4 million Tesla shares, which would account for $87 billion of his net worth. At the beginning of 2020, Musk owned roughly 38.7 million shares, worth $16.2 billion.
In May, Musk also hit the first in a series of executive milestones meant to eventually allow him to unlock a $55 billion bonus package. The first milestone allowed him to unlock one of 12 “tranches” of stock options.
Besides Musk and Bezos, just two other people have a net worth above $100 billion: Bill Gates, worth $124 billion, and Mark Zuckerberg, $115 billion.