Elon Musk Gains $25 Billion in Just One Day to Set a New Milestone

Elon Musk has just reached a new milestone: he hit a record $ 25 billion (about 1.81,610 rupees) in one day.

Tesla’s 20 percent jump on Tuesday – the biggest in more than a year – brought the billionaire founder’s net worth to $ 174 billion (roughly Rs.12,64,250), bridging the gap on Jeff Bezos, the world’s richest person, so the Bloomberg Billionaires Index. The top 10 biggest wealth winners, all in the tech industry, added a combined $ 54 billion (around Rs.3,92,350).

After three-week falls, with the Nasdaq 100 index falling 11 percent from its high, U.S. tech stocks held a stellar rally on Tuesday that lifted almost all members of the meter. The surge in Bezos’ Amazon helped him make $ 6 billion (about Rs.43,600), bringing his net worth to $ 180 billion (about 7/13/750) while Colin Huang of the Chinese online shopping Platform Pinduoduo Inc. added almost as much.

$ 25 billion in one day
Musk and Bezos have been battling for the top spot on the Bloomberg wealth index since the Tesla founder’s takeover in January, the month that his net worth hit $ 210 billion (roughly Rs.15.25.370). Since then, Bezos has regained the title of richest in the world as the electric car maker’s shares fell by up to 36 percent. Now the two tycoons are less than $ 6 billion (about 43,580 rupees) apart.

On Tuesday, Tesla also benefited from an upgrade from New Street Research analyst Pierre Ferragu, who recommended buying the stock, and a rally in Bitcoin.

The gains contrast with the notable overthrow of Chinese bottled water king Zhong Shanshan, who replaced India’s Mukesh Ambani as Asia’s richest person in December and surpassed Warren Buffett to become the sixth richest in the world in January. Zhong is now the biggest loser of the year and has been removed from the Bloomberg top 15 list. Tencent’s pony Ma is once again the richest country in China with a fortune of nearly $ 64 billion (roughly Rs. 4,64,910).

© 2021 Bloomberg LP

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