Elon Musk takes back world’s richest man status after earning almost $10 billion in a day
Billionaire, Elon Musk bounced back strongly to become the world’s richest man after a daily gain of $9.81 billion on Wednesday, February 24.
Tesla, Musk’s business surged back to $190 billion, after the electric car company’s stock posted remarkable gains of 6.18 percent , thus placing the market cap of Tesla at $712 billion coupled with the SpaceX he created completing another funding round, bringing him atop the Bloomberg Billionaires Index for the third time in 2021.
The gains propelled Musk past Amazon founder, Jeff Bezos, who is now worth $185 billion and had a few days earlier regained the title as the world’s richest individual after Tesla shares plummeted to record lows.
Tesla Inc stocks were on a record buying spree at Wednesday’s trading session, showing that global investors are buying the dip after a four-day fall that erased the world’s most valuable car business year-to-date gains.
Recent reports say SpaceX raised another $850 million this month from a consortium of leading institutional investors led by Sequoia Funds.
Such investment now places SpaceX’s value at $74 billion, a 60 percent leap from August, and helped raise Musk’s net worth by around $11 billion, according to the index.