Business mogul, Elon Musk’s is now the third richest person in the world with net worth of $115 billion. This pushes him past Facebook CEO Mark Zuckerberg on the list of the world’s richest people, according to Bloomberg.
Musk’s increase in wealth was driven by Tesla’s (TSLA) wild 12% stock gain that happened Monday after Tesla’s 5-1 stock split which now makes the Tesla founder and CEO of the third-richest person in the world.
The world’s top five billionairesin ascending order are; Jeff Bezos, Bill Gates, Elon Musk, Mark Zuckerberg, and Bernard Arnault, the CEO of LVMH in France.
Musk is also the founder of several other companies including SpaceX, The Boring Company, Hyperloop, and OpenAI. His pay package, which was approved by Tesla shareholders in 2018, doesn’t pay him any salary or cash bonuses. Instead, the CEO gets paid in millions of stock options, worth billions of dollars.
Musk owns more than 18% of the company’s shares, more than three times the next-largest stockholder. So as Tesla’s stock boomed, Musk’s net worth exploded by nearly $90 billion this year.