SpaceX CEO and owner Elon Musk celebrates after the launch of a SpaceX Falcon 9 rocket and Crew Dragon spacecraft on NASA's SpaceX Demo-2 mission to the International Space Station from NASA's Kennedy Space Center in Cape Canaveral, Florida, May 30, 2020.Steve Nesius/Reuters
Silicon Valley entrepreneur Elon Musk’s net worth topped US$-100 billion on Friday, according to the Forbes real-time billionaires list, as the shares of electric-car maker Tesla Inc. see a more than five-fold surge in value this year.
A large chunk of his wealth comes from the 21-per-cent stake in Tesla, according to Forbes. Tesla shares, which went public at US$17 apiece in 2010, rose in morning trade to a record high of US$2,318.49.
The company became the world’s most valuable car maker by market capitalization on July 1 when it overtook front runner Toyota Motor Corp. Over the last 10 years, Tesla has made many of its retail investors millionaires.
Mr. Musk is now part of an elite club of just four others with twelve digit net worth. His US$100-billion, however, is just about half the net worth of the world’s richest man and Amazon.com Inc CEO Jeff Bezos, according to Forbes.
Mr. Musk, who co-founded and sold Internet payments company PayPal Holdings Inc., now leads some of the most futuristic companies in the world.
Besides Tesla, he heads rocket company SpaceX and Neuralink, a startup that is developing ultra-high bandwidth brain-machine interfaces to connect the human brain to computers.
He set up the Boring Company to make affordable tunnels below busy city streets for an all-electric public transportation system to avoid the nasty traffic jams in U.S. cities.
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