Elon Musk's net worth got a boost from Tesla's stock split.<\/p>\n
Update: This article has been updated to reflect Teslas share price as of the market close on August 31, 2020.<\/p>\n
Tesla stock soared Monday after a stock split, lifting Elon Musks net worth to $102.9 billion at the market close. Shares jumped 12.6%, boosting Musks net worth by $10.4 billion since late Friday. Forbes calculates that he is now the fifth centibillionaire in the world, as well as the fifth-richest person in the world.<\/p>\n
Musks net worth has quadrupled since mid-March, when he ranked No. 31 on Forbes Worlds Billionaires list, with a net worth of $24.6 billion. Hes now just behind Facebooks Mark Zuckerberg, who is worth $107.6 billion.<\/p>\n
Not that this matters to Musk. The 49-year-old serial entrepreneur said hes indifferent to his standing on the Forbes list of billionaires. I really couldnt care less, Musk emailed Forbes about his net worth in July. These numbers rise and fall, but what really matters is making great products that people love.<\/p>\n
Musks fortune hit $99 billion on Thursday August 27, then dipped on Friday August 28 as the electric carmakers shares fell 3.6%. Tesla stock split on a 5-for-1 basis on Friday after the market closed and started trading on a split-adjusted basis Monday morning. Smaller traders have reportedly snapped up the lower-priced shares, which are now $498.32 versus Fridays $2,213.40.<\/p>\n
Musk owns 21% of the $464 billion (market cap) company but has pledged more than half his stake as collateral for personal loans; Forbes applies a discount to his pledged shares to account for the loans.<\/p>\n
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Elon Musk Becomes The Worlds Fifth $100 Billion-Dollar Man - Forbes<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Elon Musk's net worth got a boost from Tesla's stock split. Continue reading