Elon Musk Becomes World's Richest Person
Elon Musk's net worth skyrocketed by an unprecedented $255.2 billion in 2021, making him the richest individual globally just before his 50th birthday.
Record-Breaking One-Day Gain
On a memorable Monday in 2021, Musk casually boosted his fortune by an astonishing $25 billion in a single day. This surge followed Tesla's stock rally after Hertz revealed plans to buy 100,000 electric vehicles, mainly Model 3s, for its global fleet.
Impact of Hertz's Announcement
- The news triggered investor excitement.
- Tesla's market capitalization surpassed $1 trillion for the first time.
The Daily Star reported, "Tesla's market value passed the $1 trillion mark for the first time."
Wealth Comparison and Stock Performance
By market close that day, Forbes valued Musk's net worth at $255.2 billion, making him arguably the wealthiest person in modern history, surpassing all others tracked by Forbes.
"Musk was worth more than both Google co-founder Larry Page and Facebook's Mark Zuckerberg combined."
Tesla shares jumped 12.6%, closing at $1,024.86, up from around $910 just a few days earlier.
Source of Wealth
Musk's 23% stake in Tesla remains his largest asset, discounted for loans. He has been instrumental in building Tesla over nearly 20 years, transforming electric cars from futuristic concepts into market realities.
Summary
Elon Musk's explosive increase in net worth highlights his dominant role in the electric vehicle industry and his unprecedented success as a business leader.
Author's summary: Elon Musk's historic $25 billion single-day gain in 2021, fueled by Tesla's stock surge after Hertz's EV purchase announcement, solidified his place as the richest person in modern history.