Elon Musk is becoming richer by day. Amid the soaring price of Tesla shares, the CEO of the electric carmaker breached the top five list of richest persons in the world for a brief period of time.
Elon Musk’s net worth reached $74 billion, hitting him ahead of other billionaires on Forbes list like Warren Buffett and chairman of Reliance Industries Mukesh Ambani.
However, as Tesla’s share prices fell slightly, Musk was back at number eight on the list of billionaires once again. Earlier this month, Musk had become the seventh richest billionaire in the world. The fortune of Tesla’s founder rose $6.1 billion after the carmaker’s stock surged 11%. Musk overtook tech titans, Larry Ellison, and Sergey Brin.
Tesla share prices have almost quadrupled since the beginning of the year, from $430 to more than $1,500. Tesla overcame the Covid-19 shutdown at its US assembly plant to post a surprising $104 million net profit for the second quarter.