Home Business Times Elon Musk overtakes Ambani to become the 4th richest in the world

Elon Musk overtakes Ambani to become the 4th richest in the world

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Elon Musk the tech entrepreneur and CEO of SpaceX has now crossed Mukesh Ambani to become the world’s 4th richest person in the world after shares of Tesla Inc surged over 11 per cent on NASDAQ on Monday to hit a high record. He is also the CEO of the American electric vehicle and clean energy company holding a take of about 21% in it.

According to Bloomberg Billionaires Index, Monday’s closing price of $1835.64 per share increased Musk’s net worth from $7.8 billion to $84.8 billion. Bernard Arnault, the french luxury tycoon and the wealthiest European is just behind $0.2 billion.

The chairman of Reliance industries, Mukesh Ambani had recently reached the new height of being the 4th richest after his shares reached sky high but on Monday his net worth fell by $776 million to become the sixth wealthiest person with $78.8 billion. He is now $0.6 billion ahead of Warren Buffet, the ace investor.

The top richest people still include Jeff Bezos ($188 billion), Microsoft’s Bill Gates ($121 billion) and Facebook’s Mark Zuckerberg ( $99 billion). According to a Bloomberg report, Musk holds the capacity to increase his wealth further as an aerospace manufacturer and other space exploration technologies from his company SpaceX which is closing to finalize $2 billion in new funding which would increase his equity to $46 billion. Musk holds a stake of 54% in it.

Written by Ompriya Sahoo

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