Silicon Valley's famous entrepreneur Elon Musk's net worth exceeded
$100 billion Friday, according to Forbes' real-time billionairelist, as shares
of electric car maker Tesla are seeing a more than five-fold increase in value
this year.
According to Forbes, a large part of his fortune comes from Musk's
21% stake in Tesla. Tesla shares, which were floated at $17 per share in 2010,
rose 3.5% in morning trading to a record high of $2,318.49.
On July 1, Tesla became the world's most valuable automaker by market
value when it overtook Toyota Motor, and over the past 10 years, it has made
many individual investors millionaires.
Musk is now part of the elite club of only four others with a net
wealth of twelve numbers. However, Musk's $100 billion fortune is about half
that of the world's richest man, Amazon CEO Jeff Bezos, which has recently
reached more than $200 billion, according to Forbes.
Musk, who co-founded and sold online payments company PayPal, now
leads some of the world's most ambitious companies. Besides Tesla, Musk heads
space rocket company SpaceX and Neuralink, a startup that is developing
interfaces and a high-bandwidth mechanism to connect the human brain to
computers.
Boring Company, which is building affordable tunnels beneath busy
city streets, was also established for a fully electric public transport system
to avoid bad traffic jams in American cities.
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