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Elon Musk is now the world’s fifth richest man with a net worth of $ 74 billion

Elon Musk is now the world’s fifth richest man after his net worth reached $ 74 billion on Monday afternoon thanks to Tesla’s ongoing stock rally.

Shares of the company, founded by Musk, 49, reached $ 1,643.00 – a 300 percent increase since January 2020 and a 60 percent increase since late June. Now worth more than General Motors, Ford, BMW and Ferrari combined, Tesla has surpassed every rival to become the world’s most highly regarded automobile manufacturer.

Asked by Forbes Speaking about his wealth, the outspoken Musk, who is also the CEO of SpaceX, said, “I really don’t care. These numbers are rising and falling, but what really matters is making great products that people love. ‘

The richest man in the world, Amazon founder Jeff Bezos’, also saw his net worth increase by $ 13 billion on Monday. That’s the biggest one-day jump in someone’s wealth in the history of the Bloomberg Billionaire List. He now has a fortune of $ 189.3 billion.

Elon Musk is now the fifth richest man in the world after his fortune hit $ 74 billion on Monday

Elon Musk is now the fifth richest man in the world after his fortune hit $ 74 billion on Monday

Jeff Bezos saw his net worth increase by $ 13 billion on Monday

Jeff Bezos saw his net worth increase by $ 13 billion on Monday

Jeff Bezos saw his net worth increase by $ 13 billion on Monday

Amazon has seen a 73 percent price hike since the beginning of the year, thanks to an increase in online shopping amid the corona virus.

That increase makes Bezos, which has an 11 percent stake, worth more than companies like Nike and McDonald’s.

Musk was worth just under $ 25 billion in March and ranked 31 on Forbes’ rich list. Since then, his wealth has tripled.

He is now behind only Facebook founder Mark Zuckerberg, who is fourth richest, Microsoft Bill Gates third, Bernard Arnault second and richest Bezos in the world.

Shares in the company founded by Musk, 49, reached $ 1,643.00 on Monday - a 300 percent increase since January 2020 and a 60 percent increase since late June

Shares in the company founded by Musk, 49, reached $ 1,643.00 on Monday - a 300 percent increase since January 2020 and a 60 percent increase since late June

Shares in the company founded by Musk, 49, reached $ 1,643.00 on Monday – a 300 percent increase since January 2020 and a 60 percent increase since late June

Amazon has also seen a 73 percent price hike since the beginning of the year thanks to an increase in online shopping amid the corona virus

Amazon has also seen a 73 percent price hike since the beginning of the year thanks to an increase in online shopping amid the corona virus

Amazon has also seen a 73 percent price hike since the beginning of the year thanks to an increase in online shopping amid the corona virus

Tesla’s stock price has increased more than sixfold since October, trading around $ 1,500 on Monday.

Determined in the company’s mission to lead the automotive industry to a battery-powered future, retail investors around the world have invested their personal money, and sometimes their parents’ pension fund, into Tesla and receive great rewards.

Tesla will announce second quarter results on Wednesday after closing. While analysts surveyed by Refinitiv on average expect the company to report a loss, a surprisingly strong vehicle delivery report sparked hopes among many retail investors for a profitable quarter.

While the total number of retail investors in Tesla is unknown, according to Refinitiv data, approximately 75 percent of the company’s shares are held by large institutional investors and Tesla executives, including CEO Elon Musk.

Bezos, pictured with girlfriend Lauren Sanchez, now has a fortune of $ 189.3 billion

Bezos, pictured with girlfriend Lauren Sanchez, now has a fortune of $ 189.3 billion

Musk, with girlfriend Grimes, was worth just under $ 25 billion in March and ranked 31 on Forbes' rich list. Since then, his wealth has tripled

Musk, with girlfriend Grimes, was worth just under $ 25 billion in March and ranked 31 on Forbes' rich list. Since then, his wealth has tripled

Bezos, pictured left with girlfriend Lauren Sanchez, now has a fortune of $ 189.3 billion. Musk, along with girlfriend Grimes, was worth just under $ 25 billion in March and was 31 on Forbes’ rich list. Since then, his wealth has tripled

Tesla shares are among the most popular on US investor platforms, such as Robinhood Markets Inc and TD Ameritrade.

The number of users who have Tesla shares on the Robinhood trading app increased by more than 400 percent from the first two weeks of July 2018 to the same point this year, according to data from Robintrack.net, which is collecting data on the investment platform.

In South Korea, where Tesla has become the latest craze among tech-savvy professionals, the company is the most traded share overseas, with Koreans purchasing $ 3.2 billion of Tesla shares so far this year, nearly 13 -fold from all of 2019.

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