Elon Musk Wealth Surges, Gains $19 Billion in a Single Day as Tesla Stocks Soars
- Tesla and SpaceX owner, Elon Musk is $19 billion richer as shares of his company gained 8 per cent on Monday
- The surge in Musk's wealth happened as Tesla shares traded above $1,000 according to the US Security Exchange report
- Musk became the world's top billionaire after overtaking Amazon boss, Jeff Bezos in 2021 to have his net worth stand at $275 billion
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In a classic case of the rich getting richer, the world’s richest man, Elon Musk has gained a massive $19 billion in a single day, after he was reported to have gained more than that in less than a week a few days ago.
As of Monday, March 28, 2022, Musk's wealth stands at N275 billion, a report by Nairametrics says.
Source: Getty Images
The surge in Musk’s fortune on Monday, March 28, 2022, happened after Tesla, his company posted daily gains of above $1,000.
What Musk's wealth can afford
The SpaceX CEO’s net worth is equal to 143 million troy ounces of gold or 2.51 billion barrels of crude oil. According to regulatory filings in February 2021, the South African born entrepreneur owns about 17 per cent of Tesla.
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Tesla’s shares surged above 8 per cent at the end of trading on Monday, March 28, 2022, in New York, standing at $1,091.
Desire to increase Tesla stocks
The company wants to split its stock so as to pay dividends to stakeholders.
The electric car maker intends to ask for an increase in the number of shares of common stock approved at its annual shareholders' meeting, according to the US Securities and Exchange Commission filling.
Forbes reports that Musk became the richest man in the world after he overtook Jeff Bezos last year.
Elon Musk concedes the richest man in the world title to Vladimir Putin
Meanwhile, Legit.ng has reported that Tesla and SpaceX CEO, Elon Musk says he may be the richest man in the world in theory, but believes that he only holds the title.
The Russian President, Vladimir Putin, Elon Musk says, is the richest man in the world in the actual sense of the word, a report by Fortune says.
Musk says he thinks Putin is immensely wealthier than him, he told Mathias Dopfner, the CEO of Axel Springer, the parent company of Business Insider on Saturday, March 26, 2022.
Source: Legit.ng
