- Elon Musk's net worth rose above $100 billion on Wednesday, the same day Amazon CEO Jeff Bezos cracked the $200 billion barrier.
- Musk's personal wealth has soared by $73 billion this year.
- Tesla's stock has shot up 400% in 2020.
Tesla CEO Elon Musk has joined the centibillionaires club.
Bloomberg on Wednesday reported that the Tesla billionaire's net worth had officially surpassed $100 billion, following a rallying of Tesla shares.
Simultaneously, the world's richest person, Amazon CEO Jeff Bezos, saw his net worth break the $200 billion mark.
Transform talent with learning that worksCapability development is critical for businesses who want to push the envelope of innovation.Discover how business leaders are strategizing around building talent capabilities and empowering employee transformation.Know More Many of the world's richest people have seen their wealth balloon since this year during the coronavirus pandemic. Per Bloomberg, the richest 500 people have made a cumulative gain of $809 billion. Musk's wealth has increased by more than $73 billion since January, according to the Bloomberg Billionaires Index, and Bezos' by $87 billion.
Musk's wealth increase largely comes down to Tesla's stock soaring 400% this year. As of June, Musk owned 40.4 million Tesla shares, which would account for $87 billion of his net worth. At the beginning of 2020, Musk owned roughly 38.7 million shares, worth $16.2 billion.
In May, Musk also hit the first in a series of executive milestones meant to eventually allow him to unlock a $55 billion bonus package. The first milestone allowed him to unlock one of 12 "tranches" of stock options.
Besides Musk and Bezos, just two other people have a net worth above $100 billion: Bill Gates, worth $124 billion, and Mark Zuckerberg, $115 billion.