U.S. Markets close in 3 hrs 13 mins
  • S&P 500

    4,465.26
    -15.44 (-0.34%)
     
  • Dow 30

    34,714.91
    -99.48 (-0.29%)
     
  • Nasdaq

    15,119.65
    -41.88 (-0.28%)
     
  • Russell 2000

    2,249.73
    -25.88 (-1.14%)
     
  • Crude Oil

    69.39
    +1.04 (+1.52%)
     
  • Gold

    1,790.70
    -7.80 (-0.43%)
     
  • Silver

    23.95
    -0.38 (-1.58%)
     
  • EUR/USD

    1.1823
    -0.0025 (-0.2128%)
     
  • 10-Yr Bond

    1.3310
    +0.0270 (+2.07%)
     
  • Vix

    17.96
    -0.18 (-0.99%)
     
  • GBP/USD

    1.3773
    -0.0013 (-0.0909%)
     
  • USD/JPY

    110.2260
    -0.0330 (-0.0299%)
     
  • BTC-USD

    48,068.11
    -185.95 (-0.39%)
     
  • CMC Crypto 200

    1,234.80
    +1.51 (+0.12%)
     
  • FTSE 100

    7,095.53
    -53.84 (-0.75%)
     
  • Nikkei 225

    30,181.21
    +265.07 (+0.89%)
     

Musk Crosses Zuckerberg To Be World's Third-Richest Person, After Tesla Stock Split

  • Oops!
    Something went wrong.
    Please try again later.
·2 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

Tesla Inc (NASDAQ: TSLA) CEO Elon Musk is now the third richest person in the world ahead of Facebook Inc (NASDAQ: FB) co-founder Mark Zuckerberg, according to Bloomberg Billionaires Index

What Happened: Musk’s wealth has climbed to $115 billion, while Zuckerberg is worth $111 billion, as per the Bloomberg Index.

The billionaire entrepreneur's wealth has risen by $87.8 billion this year alone, caused primarily by a nearly 500% spike in Tesla's stock in the same period.

In July, Musk received $2.1 billion in stock benefits as Tesla’s market capitalization hit the $150 mark. The executive benefits from one of the largest corporate payment packages between a CEO and a company’s boards.

Why It Matters: Tesla’s market capitalization is about $464.3 billion, and the company’s shares continue to be on a hot streak — closing more than 12% higher on the first day of split-adjusted trading Monday.

The automaker’s shares have been popular with retail investors in the United States and abroad during the boom in equities seen during the COVID-19 pandemic, Bloomberg noted.

Another billionaire whose wealth has increased considerably during the coronavirus crisis is Amazon.com, Inc (NASDAQ: AMZN) CEO Jeff Bezos, who was estimated to be worth $204.68 billion in August, according to Forbes.

Musk has joined Zuckerberg and Microsoft Corporation's (NASDAQ: MSFT) co-founder Bill Gates in the centibillionaire’s club. 

Price Action: Tesla shares closed almost 12.6% higher at $498.32 on Monday and added another 3.3% in the after hours session to $514.75.

Photo Courtesy: Steve Jurvetson on Flickr.

See more from Benzinga

© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.