Elon Musk Is Now The Richest Man In The World As Tesla Stocks Soar To New Height

<blockquote><b>Elon Musk is currently the worlds richest man,</b> according to Bloombergs Billionaires Index.<br><br><b>After Thursdays trading sessions at the worlds most influential economy, the 50-year-old entrepreneur recorded daily gains of about $3.52 billion to be worth $196 billion.<br><br>Teslas share price increased 2.2% on Thursday, contributing to the billionaires record gains. The value of the worlds most valuable car company currently stands at $715 billion with about 123% yearly growth.</b><br><br>Global investors have piled into shares of the Palo Alto, California-based company focused on manufacturing electric sedans and sports utility vehicles, on some optimism that global government policies are likely to encourage the adoption of electric vehicles.<br><br>Besides news about Teslas strong deliveries from its China factory, the stocks upward trend may have been triggered by a generally bullish day for growth stocks.<br><br>More than 50% of Teslas vehicle deliveries are expected to increase each year. China, where Teslas factory contributed to nearly 40% of the companys installed manufacturing capacity in Q2, is critical to achieving this target.<br><br>As of February 2020, Elon Musk owns 20% of Tesla, and he is entitled to receive billions more from his payroll agreement based on Tesla stock.<br><br>As of December 2020, he had loans from three U.S. banks totalling roughly $500 million.<br><br>As of the beginning of last year, the fifty-year-old tech tycoon was not among the top 50 richest people. He passed Warren Buffett as Americas seventh-richest person in July of that year. His wealth has since increased, and he was ranked second only to Bill Gates in November.<br><br><b>His current net worth equates to 112 million troy ounces of gold or 2.77 billion barrels of crude oil.</b></blockquote><br><a rel=ugc href="https://nairametrics.com/2021/08/13/elon-musk-is-now-worlds-richest-man-as-tesla-stocks-soar-to-new-heights/">https://nairametrics.com/2021/08/13/elon-musk-is-now-worlds-richest-man-as-tesla-stocks-soar-to-new-heights/</a>
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