Elon Musk now richer than Mark Zuckerberg after gaining overnight wealth
- South African born billionaire Elon Musk is now reportedly richer than Facebook's Mark Zuckerberg
- Musk gained around $12 billion (N4,628,176,800,000.00) in wealth overnight pushing his net worth up to $114 billion (N43,967,679,600,000.00)
- The 49-year-old is now set to be the third richest person in the world, just a few billion dollars away from Jeff Bezos
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South African-born billionaire Elon Musk is reportedly richer than Facebook co-founder and CEO Mark Zuckerberg. According to reports, Musk gained another $12 billion (N4,628,176,800,000.00) in wealth overnight.
This is due to the announcement of Tesla's addition to the S&P 500 (a stock market index that measures the stock performance of 500 large companies). Musk's network is sitting on $114 (N43,967,679,600,000.00) billion while Zuckerberg's is $101.7 billion (N41,422,182,360,000.00).
Musk is also currently the highest-paid executive on the planet and according to reports, he doesn't take a salary from Tesla.
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According to Business Insider, Musk hasn't sold any of his stakes since 2016. While The Guardian reported that 49-year-old Musk is set to be the third richest person in the world.
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Meanwhile, Legit.ng earlier reported that the Facebook founder's wealth passed a $100 billion (N37,900,000,000,000) mark for the first time on Thursday, August 6, after his company Facebook Inc hit a record profit after the release of Reels.
Facebook's founder joined the league of centibillionaires of Jeff Bezos and Bill Gates. It should be noted that his fortune largely comes from his 13% stake in Facebook.
This development adds to the fact that American tech titans have had their fortune take a huge surge this year as the coronavirus pandemic makes people conduct their activities online more than before.
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Joseph Omotayo (HOD Human-Interest) Joseph Omotayo has been writing for the human interest desk since 2019 and is currently the head of the desk. He graduated from Obafemi Awolowo University, Ile-Ife, with a degree in Literature in English in 2016. He once worked for Afridiaspora, OlisaTV & CLR. He is a 2022/2023 Kwame Karikari Fact-Checking fellow. He can be reached via: joseph.omotayo@corp.legit.ng.
Khadijah Thabit (Copyeditor) Khadijah Thabit is an editor with over 3 years of experience editing and managing contents such as articles, blogs, newsletters and social leads. She has a BA in English and Literary Studies from the University of Ibadan, Nigeria. Khadijah joined Legit.ng in September 2020 as a copyeditor and proofreader for the Human Interest, Current Affairs, Business, Sports and PR desks. As a grammar police, she develops her skills by reading novels and dictionaries. Email: khadeeejathabit@gmail.com
