Tesla’s stock (TSLA) is surging today to again a new record high, and it just made Elon Musk the richest man in the world.
Somewhere there’s a sad Jeff Bezos wiping his tears with $189 billion.
Tesla (TSLA) stock
Tesla’s stock is up more than 6% today, continuing the company’s historic run on the stock market and pushing to new highs over $800 per share.
Following Tesla closing 2020 strong and also starting 2021 strong on the stock market, the new surge today is adding tens of billions to the company’s valuation.
Tesla is now worth over $750 billion, according to the stock market.
Elon Musk is the richest man in the world
Tesla’s surge in stock price is sending Elon Musk’s fortune to over $190 billion — surpassing Jeff Bezos’ net worth and making Tesla’s CEO the new richest man in the world, according to most billionaire trackers.
Musk owns around 20% of Tesla’s stock, which puts his own stake in Tesla at over $150 billion.
On top of that, Tesla shareholders have approved a very generous and ambitious CEO stock compensation plan back in 2018.
The plan is linked to a significant increase in revenue, adjusted EBITDA, and a massive increase in Tesla’s market valuation.
After those milestones are achieved, each $50 billion increase in Tesla’s market capitalization would result in Musk receiving 1.69 million shares at a set price.
But that was before Tesla’s stock split, which means that the tranches should now be over 8 million shares.
At $800 per share, each tranche could be worth over $6 billion, increasing Musk’s lead as the richest man in the world.
Furthermore, Musk’s stake in Tesla is the only clear part of his net worth since it is the only public company that he is a major investor in.
He also owns major stakes in SpaceX, The Boring Company, and Neuralink, which are all private companies, and their valuations are less clear.
SpaceX is the biggest company of the three, and it is estimated to be worth close to $100 billion, with Musk owning as much as 45% of the company.
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