Tesla Stock rallied 11.20% on Monday, propping the electric vehicle giant market valuation even higher to $342.094 billion.
Tesla CEO, Elon Musk, the same man that sent a sports car for the first time in human history to space, is now the 4th richest man in the entire universe. Elon Musk sent a $100K Tesla Roadster to space on a Falcon Heavy rocket on February 6, 2018. Since then, Musk’s red car, which is helmed by a spacesuit-wearing Starman, has been traveling farther and farther away. According to astronomers, Starman’s next close approach with Earth is expected to happen in 2047 within 3 million miles. … It’s somewhat unlikely that Starman will be brought back to Earth shortly, but perhaps technological advances in the distant future could make this possible.
Elon Musk Is Now World’s 4th Richest Man
The tech genius net worth has increased to $84.8 billion after gains nearly $8 billion ($7.78 billion) in a single day.
It’s Offical!. Elon Musk as at this moment is now a member of the elite group of five richest people on Earth. The only people placed above him right now are Mark Zuckerberg ($99 billion), Bill Gates ($121 billion) and Jeff Bezos ($188 billion).
According to the Bloomberg Billionaires Index, Musk’s wealth jumped after a tech rally on Wall Street saw Tesla shares rise by 11 percent at Monday’s closing.
Tesla Stock Pre-Market
The stock of the electric vehicle giant is presently trading at $1,895.00, up about 3.23% from yesterday’s closing price of $1,835.64.
The rally is mostly rumored to be caused by the upcoming 5-1 stock splits – Here Is What Tesla 5-1 Stock Split Means, Battery Day set for September 22, followed by the Third Quarter Delivery report.
Analysts are propping up their price target on the stock as well, as the rally continues. Wedbush Analyst Daniel Ives Raises Tesla Stock Price Target To $19000, From $1800
In Conclusion: While the coronavirus pandemic has made most billionaires lose billions of dollars, Elon Musk has made $57 billion.