Elon Musk’s Net Worth to Hit $300 Billion as Tesla Rally Shifts Gears

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Principal Points

• Elon Musk’s net worth could cross $300 billion today if Tesla shares close higher
• The eccentric billionaire and crypto fan has accumulated over $120 billion this year

Elon Musk’s Net Worth to Reach $300 Billion

Elon Musk’s net worth is looking to cross the $300 billion milestone. If materialized, this would make him the first person in the world to be worth this staggering amount. In other words, the Tesla executive will be $100 billion richer than the second on the list, Amazon founder Jeff Bezos.

That said, Elon Musk’s fortune is now valued at $292 billion according to the Bloomberg Billionaires Index. Furthermore, his net worth has grown by a mind-blowing amount of $122 billion since January. Or more than Warren Buffett made in his entire career as one of the most successful investors.

With that in mind, the net worth of Elon Musk is divided between his two biggest companies, Tesla and SpaceX. In Tesla, the billionaire holds a 21% share.

In other words, about $200 billion of the EV maker’s $1 trillion valuation belong to Mr. Musk. In SpaceX, on the other hand, Elon Musk holds about 44% of all shares. SpaceX, which is not yet a public company, recently received a valuation of over $100 billion.

Tesla Poised to Open Higher on Thursday

The climb of Mr. Musk’s personal fortune is largely a result of the recent spectacular gains in Tesla stock. In more detail, shares of Tesla rallied about 20% over the past few days and crossed $1,000 apiece. Moreover, the jump carried the EV maker’s valuation above $1 trillion, joining a club of only four other companies.

Against that backdrop, Tesla stock is looking to open higher today. More precisely, pre-market trading indicated Tesla could open higher by more than 2% when regular trading begins. If the electric-vehicle producer keeps the gain until markets close, Mr. Musk is set to cross the $300 billion threshold.

It’s worth noting that, according to Mr. Musk himself, both SpaceX and Tesla own bitcoin. “SpaceX, Tesla, and I own Bitcoin,” he said at a conference near the end of July.

Trading Opportunities Today

On that note, traders and investors today could use the volatility in the Tesla stock to enter the market. However, the past few sessions have been highly volatile with the share price swinging wildly.

On the cryptocurrency front, bitcoin has recaptured the $60,000 mark after sliding to a session low of $58,000. The broader digital asset market is looking to erase the Wednesday losses as most major tokens are grinding higher.

In individual stocks, besides Tesla, elevated volatility is bound to define Apple and Amazon stocks. The tech duo is slated to report earnings figures for the third quarter when the markets close.

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