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Even amid a record year for billionaire wealth, no one in the world has had a better twelve months than Elon Musk. The Tesla cofounder and CEO’s fortune has grown an unprecedented amount, making him the second-richest person on Forbes’ 2021 World’s Billionaires list, with a net worth of $151 billion. (Forbes used stock prices from March 5.)
Musk’s net worth shot up by an astounding $126.4 billion since March 18, 2020 as Tesla shares soared over the past year. That makes Musk, who was worth $24.6 billion on last year’s list, the biggest gainer in dollar terms on the 2021 ranking. In percentage terms, he’s more than 500% richer than he was a year ago.
The surge in Musk’s fortune is primarily driven by the rise of Tesla shares, which are up more than 300% since last year’s list, even after taking into account a 32% drop in the share price since its January 2021 high of $900 per share. The company has continued to win over investors by introducing new vehicles, increasing deliveries and beating analyst expectations. Tesla was added to the S&P 500 Index in December.
Musk derives the bulk of his fortune from his 21% stake in Tesla. He holds around 147 million shares and has over 56 million in vested options awards. As Tesla hit various milestones over the course of 2020, Musk received several tranches of options worth billions of dollars each, according to regulatory filings.
Read the full profile on Forbes: https://www.forbes.com/sites/sergeiklebnikov/2021/04/06/rocket-elon-how-teslas-eccentric-boss-became-the-number-two-richest-on-forbes-2021-billionaires-list/?sh=2d438e4656b7
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