Elon Musk’s Net Worth Jumps by $36.2 Billion in 24 Hours

Just like Elon Musk is redefining inventions, modern entrepreneurial approaches and marketing in general, the world’s richest man has started redefining what it means to be a billionaire.

The net worth of Elon Musk, the co-founder and Chief Executive Officer (CEO) of Tesla Inc., jumped by $36.2 billion in the last 24 hours, according to the Bloomberg Billionaire Index, an index that tracks the wealth of billionaires.

Musk’s total net worth jumped to $289 billion after gaining $36.2 billion within 24 hours. Year-to-date, Elon Musk’s total net worth has risen by $119 billion.

The net worth of Musk rose after Hertz Global Holdings Inc. ordered 100,000 electric vehicles from Tesla Inc., in a move to switch from fuel-powered vehicles to an electric-powered rental-car fleet.

Price of Tesla stock rose by $115.18 or 12.66 percent on Monday immediately after Hertz announced that customers can now rent Tesla Model 3 cars at airports in major cities in the U.S and Europe starting from November 2021.

The increase in price pushed Tesla’s valuation to $1.01 trillion on Monday to make the company the fasted organisation to attain a trillion valuation status within two years of hitting a $100 billion valuation.

Elon Musk now leads Jeff Bezos, Amazon founder, with an astonishing $96 billion in net worth. See the table below.