▲ CEO Elon Musk (CE0), whose assets increased by $3.6 billion overnight as Tesla entered the $1 trillion club in market capitalization on the 26th (local time). Reuters Yonhap News
Tesla CEO Elon Musk became the first billionaire in the world to become the richest person in the world at $300 billion.
According to the Billionaires Index compiled by Bloomberg on the 29th (local time), Musk’s net worth stood at $302 billion (353.6 trillion won).
Musk’s fortune soared as Tesla’s stock price soared to the so-called ‘Thousandsla’ highs, above $1,000.
Tesla shares closed at $1,114 on the New York Stock Exchange on the same day, up 3.43% from the previous day.
Musk’s net worth also increased by $9.79 billion (11.46 trillion won) during the day, thanks to the rise in Tesla stock.
The wealth gap with Amazon founder Jeff Bezos (net worth $19.90 billion) widened to $103 billion (120.6 trillion won), the second richest person in the world.
“Musk is the first person on the planet to reach the $300 billion net worth milestone,” CBS said in a statement.
When ranking the world’s richest, royalty and politicians are largely excluded. Entrepreneurs are usually on the list.
The Bloomberg Billionaires Index
Musk’s recent fortune surge has made him a prime target for billionaire status. Musk also expressed his dissatisfaction with this.
When the US Democrats looked at a billionaire stance to finance large social welfare spending, Musk countered that the government’s fiscal spending, which was increasing the national debt, was the problem.
However, before President Joe Biden left for Europe on the 28th, he proposed to the US Congress a compromise plan to cut the size of the Social Welfare Department in half.
“America’s billionaires are breathing a sigh of relief,” Bloomberg reported.
The news agency reported that Musk can’t pay income tax unless he sells Tesla stock, and Musk borrowed $515 million (603.1 billion won) from several investment banks last year using stock assets as collateral, and it is not taxed.
By Shin Jin-ho, reporter sayho@seoul.co.kr
