Elon Musk Sets One Day $25 Billion Net Worth Increase Record
Elon Musk is one of the richest men alive, and he certainly doesn't need an income boost. Yet in one day, he saw his income catapult by a jaw-dropping $25 billion, and the best part about it, is that this enormous addition to his already incomprehensible wealth was generated without him having to do a single thing.
Musk can credit his newfound multi-billion dollar bonus to the fact that shares of Tesla soared by 20%. Literally making $25 billion while he slept, this is the biggest jump in the market that Tesla has seen in over a year, and Musk was at there to reap the benefits of this great moment. As reported by Markets Insider, he has now significantly closed the gap between his net worth, and that of Jeff Bezos, who currently holds the wealth title all to himself. As Bezos and Musk go head to head for the top position on the Bloomberg Wealth Index, this single-day soar significantly bolsters Musk's progress, and positions him right at the heels of Jeff Bezos.
These business tycoons must be doing something very right, as they both ended up seeing an enormous wealth increase this week. At the same time that Elon Musk was seeing his numbers grow exponentially, Jeff Bezos was also counting additional dollar signs that boosted his net worth as well. On Tuesday, Amazon shares rose by 4%, which put a cool $6 billion into the hands of Jeff Bezos, and boosted him a nose further in this dollar-for-dollar competition among moguls.
Markets Insider reports that; "Tesla stock soared 19.64% to $673.58, its biggest rise in more than a year, adding over $100 billion in value. Musk owns more than 20% of the company, which helped his net worth soar $25.1 billion in its biggest one-day gain yet."
This is a huge bounce back for Tesla, who saw their shares drop quite significantly in February. Just a few weeks prior to this soaring momentum, Tesla's stocks saw a sharp drop, and according to LAD Bible, many investors pulled out and were "put off the likes of Tesla through concerns that it would still be some time before it turned out big profits."
It seems that no matter what risks Elon Musk takes, or what sorts of highs and lows his investments experience, he always finds a way to get back on top and generate even more wealth to the already enormous fortune that he has amassed. This $25 billion payday was certainly a great way to end the week, and there's no telling how much more he's poised to earn in the next few days.
Sources: Markets Insider, LAD Bible, Yahoo Finance
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