Elon Musk balanced the previous loss by gaining $25 billion

Elon Musk balanced the previous loss by gaining $25 billion
Elon Musk, Tesla CEO, Source: Web

In the last week, Elon Musk, Tesla CEO, lost tens of billions of dollars, but he fetched them back just in a single day on Tuesday when a twenty-percent rally in Tesla’s stock.

On Tuesday, Elon Musk added 25 billion dollars to his net worth, which brings his net fortune to 174 billion dollars, said Bloomberg Billionaires Index. Moreover, it is an apparent reversal effect from the earlier week, when he ruined nearly twenty-seven billion dollars after a massive sell-off of tech shares.

On Wednesday, Musk’s net worth remained almost unaffected, with the company’s shares only a little down. Furthermore, he owns around eighteen percent of the firm’s shares.

Jeff Bezos (Amazon CEO) and Elon Musk have been exchanging each other’s positions in Bloomberg’s list of the wealthiest persons across the world since January. Besides this, Elon Musk is currently in the second position, and he is just six billion dollars behind the Amazon CEO. Jeff Bezos’s net worth is 180 billion dollars.

Bill Gates, the founder of Microsoft, is still having the third spot on the list and his net worth is 137 billion dollars.

Elon Musk balanced the previous loss by gaining $25 billion
Elon Musk balanced the previous loss by gaining $25 billion,
Source: Web

Tesla ranked 5th most valued companies on the stock market

In 2020, Tesla’s shares upsurged 743 percent, which pushed the company to fifth place in the list of the world’s most valued firms on the stock market. In the starting weeks of 2021, the company’s stock surged and gained another 25 percent to a record high close of 883.90 dollars on 26th January. Moreover, Tesla’s stock has dropped around 25 percent since then.

Even if the company’s stock continues to drop, Elon Musk still has the potential to become much wealthier in 2021.

Musk had acquired 4 grants to purchase 8.4 million Tesla’s shares, all in 2020. On Friday’s closing value, each share was worth 4.5 billion dollars, and after getting into account the seventy dollars per share exercise cost, he will have to pay.

This year, he will possibly get three further options grants, each as large and as profitable as Musk got in 2020. He didn’t exercise any of his options, and executives usually exercise them when they are due to expire. Tesla’s CEO didn’t sell any of the company’s shares.

Elon Musk is a dominant shareholder of SpaceX (a privately owned firm). In February, the firm has completed a new funding round. But the company didn’t show the details, many published documents describe the 850 million dollars that it ramped up the valuation of that firm sixty-percent to 74 billion dollars.