Elon Musk continued his ascent up the billionaire boys list as Tesla Inc’s rising share price sees the rocketman’s net worth leapfrog that of Louis Vuitton entrepreneur Bernard Arnault.
Musk’s net work consequently rises to around US$90bn, which according to the Bloomberg Billionaire’s Index, leaves him behind only Facebook’s Mark Zuckerberg (worth c US$99bn), Microsoft’s Bill Gates (US$121bn) and Amazon’s Jeff Bezos (US$195bn) on the rich list.
In Wednesday’s deals. Tesla shares rose by US$4.91 or 0.26% changing hands at US$1,892.
Musk holds around 21% of Tesla’s stock and he has a series of extremely lucrative incentive payments which pay out in-step with the electric car firm’s market valuation. In May, for example, he received a US$700mln pay out.