Elon Musk becomes richer than Mark Zuckerberg after Tesla stock split

Tesla founder Elon Musk, on August 31, reportedly became world’s third-richest person overtaking Facebook co-founder Mark Zuckerberg. According to Bloomberg Billionaires Index, which is updated at end of each market day, Musk was worth $111.9 billion compared with $111.2 billion for Zuckerberg. 

As per reports, Musk passed Zuckerberg as shares of Tesla continued ir unrelenting rally after undergoing a forwards stock split. Musk has seen a meteoric rise in his wealth, with his net worth growing by $76.1 billion this year as Tesla shares reportedly shrugged over 475 per cent. His rise in wealth is also an outcome of his pay pack, which is largest corporate pay deal ever struck between a CEO and a board of directors. Musk’s salary could yield him more than $50 billion of all goals are met. 

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Musk joins centibillionaire club

Tesla is one of favourite firms among amateur investors in online trading. company has been one of largest beneficiaries of boom in retail investing during coronavirus pandemic lockdowns. According to reports, at one point last month, almost 40,000 Robinhood accounts added Tesla shares during a single four-hour span. trend is also t just limited to US as South Korean retail investors have piled into Tesla this year and hold about a one per cent stake in American automaker. 

According to reports, Tesla’s $454 billion market value w exceeded that of retail behemoth Walmart Inc., which is largest company in US by revenue. Last week, Musk also joined Zuckerberg, Amazon’s Jeff Bezos and Bill Gates in rarefied centibillionaire club as tech stocks rose. Tesla CEO still has a long way to become world’s richest person as Bezos is worth about $200 billion. 

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