Elon Musk On Track To Become The World’s Wealthiest Man

Tesla Inc (NASDAQ: TSLA) CEO Elon Musk is just $3 billion away from becoming not only the world’s richest person, but potentially the richest man in human history.

According to Bloomberg’s Billionaire Index, the SpaceX and Tesla founder is currently worth $181 billion, just shy of the world’s richest man and Amazon (AMZN) founder Jeff Bezos at $184 billion. Bezos has held the title of world’s richest person since October 2017.

Tesla Shares

Tesla shares, which have raced higher by 668% year-over-year, gained nearly 3% on Wednesday. CNBC’s Robert Frank noted in a tweet that if the ticker jumps by more than 1.6% in today’s trading session, Musk becomes the world’s richest person.

Elon Musk’s net worth catapulted even higher after Tesla’s shares were added to the S&P 500 (^GSPC) index. The announcement of the move triggered a new wave of buying of the electric carmaker’s shares, sending the company’s market cap above $500 billion and boosting the value of Musk’s 21% holding in the business.

It should be noted that since the announcement of Tesla’s S&P addition, Musk has seen his net worth increase by another $13 billion-and in the process overtake Microsoft’s Bill Gates to become the world’s second-richest person with $128 billion. Before the November announcement, Elon Musk’s net worth, which was $184.5 billion on January 6, was reportedly at $117 billion.

Musk has managed to increase his net worth, which is inextricably tied with Tesla’s stock price, by more than $150 billion over the last 52 weeks.

Price Action

Tesla shares gained 2.8% by the close of trading Wednesday and changed hands at $735.11 each. Ticker is up 35 points, or $4.74%, in Thursday’s early trading hours giving the EV maker a market value of more than $716 billion.

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