On the verge of making history, Elon Musk is close to become first person to have net worth of $300 billion.
As Tesla’s stock prices continue to rise on so does Elon Musk‘s personal worth. As the markets closed on Wednesday, the share price of Tesla rose two percent, carrying Elon Musk’s wealth closer to $300 billion, Wall Street Journal reported.
We have already reported how Tesla’s share prices have meteorically risen since the beginning of 2020 and the company’s market cap is now above $1 trillion. As stock prices show no signs of abating, Musk continues to add billions of dollars to his personal wealth on a daily basis, even though it might just be on paper.
The Bloomberg Billionaires Index daily updates the changes in the fortunes of the world’s wealthiest as well as on a longer horizon of one year. According to the list, Musk’s net worth now stands at $292 billion and he has made $122 billion of it this year alone.
Musk’s consistent target on social media, Jeff Bezos, whom he recently beat to claim the top spot, is rapidly becoming a distant second. Bezos’ net worth has largely remained under the $200 billion mark this year has risen only $6 billion over the past year.
Musk could single-handedly save 42 million from starvation if he donated just two percent of his newly gained wealth. David Beasly, the executive director of the United Nations World Food Program, has asked billionaires to step in to save 42 million people who face a food security ’emergency’ that is just a step below famine, Gizmodo reported. The cost of saving these people from starvation is six billion dollars, just one-sixth of what Musk made on Tuesday, roughly two percent of Musk’s current net worth.
Even if Musk did not wish to contribute this amount all by himself, he could rally up some of his friends such as Bill Gates, Sergey Brin, Mark Zuckerberg, Larry Ellison, and many others from his new ‘Big Tech’ Club who have made big gains as millions of Americans lost their jobs.