Elon Musk is on track to become the first trillionaire after his fortune soars $36 billion in just 24 hours; Musk’s net worth now surpassed $300 billion
When Tesla CEO Elon Musk went to bed on Sunday night, his net worth stood at $254 billion. By 4:00 PM EST Monday, when the market closed, Musk’s net worth was $290 billion. That’s right, a $36 billion gain in just a single day. That’s the largest single-day private wealth gain in human history. At $290 billion, it means that Musk’s personal net worth is now bigger than oil giant Exxon’s market cap.
Interestingly, Musk is just getting started. Morgan Stanley analysts are now predicting that the world’s richest man will become even richer and on track to become the first-ever trillionaire. While Musk has made most of his money from Tesla, analysts at Morgan Stanley said that it’s his space exploration venture SpaceX is about to take off and really put him on the financial map.
“More than one client has told us if Elon Musk were to become the first trillionaire … it won’t be because of Tesla,” analyst Adam Jones said, according to The Guardian. “Others have said SpaceX may eventually be the most highly valued company in the world—in any industry.”
Early this month, Tesla CEO Elon Musk also overtook Jeff Bezos to reclaim the title of the world’s richest person; the third person ever to amass a fortune worth $200 billion. With the current stock price of Tesla, Musk is now worth more than $230 billion and is potentially on his way to becoming the world’s first trillionaire.
Yesterday, Tesla became a trillion-dollar company after it surpassed the $1 trillion market cap for the first time. The historic milestone makes Tesla a member of the exclusive trillion-dollar market cap companies like Apple, Amazon, and Microsoft. To put this in perspective, Tesla’s $1 trillion market cap is equal to about 5 percent of the total gross domestic product of the United States.
Update: We promise, this is our last update and then no more. Elon Musk’s net worth has now surpassed $300 billion today.