Home / World News / At half of Jeff Bezos's net worth, Elon Musk enters elite $100 bn club

At half of Jeff Bezos's net worth, Elon Musk enters elite $100 bn club

A large chunk of his wealth comes from the 21% stake in Tesla, according to Forbes

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Musk, who co-founded and sold Internet payments company PayPal Holdings Inc, now leads some of the most futuristic companies in the world | Photo: Bloomberg

Reuters

2 min read Last Updated : Aug 28 2020 | 9:23 PM IST

Silicon Valley entrepreneur Elon Musk's net worth topped $100 billion on Friday, according to the Forbes real-time billionaires list, as the shares of electric-car maker Tesla Inc see a more than five-fold surge in value this year.

A large chunk of his wealth comes from the 21% stake in Tesla, according to Forbes. Tesla shares, which went public at $17 a piece in 2010, rose as much as 3.5% in morning trade to a record high of $2,318.49.

The company became the world's most valuable carmaker by market capitalization on July 1 when it overtook front runner Toyota Motor Corp

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