Cha-ching! Musk kickstarts new decade on a high, beats Amazon CEO Bezos with a $13.5 bn gain
On Monday, shares of the electric-vehicle maker surged 20% to a record $780.
By Bloomberg |
Agencies
No one, not even Bezos (left), is having as good a start to the decade as Tesla Inc. Chief Executive Officer Elon Musk (right).
By Sophie Alexander and Anders Melin
Jeff Bezos is still the world’s richest person by a comfortable margin, thanks to Amazon.com Inc.’s January surge that added $9 billion to his net worth.
But no one, not even Bezos, is having as good a start to the decade as Tesla Inc. Chief Executive Officer Elon Musk.
On Monday, shares of the electric-vehicle maker surged 20% to a record $780, the biggest one-day gain since 2013. Tesla shares have climbed 86% in less than five weeks, boosting Musk’s fortune by $13.5 billion, the most of anyone on the Bloomberg Billionaires Index.
After starting 2020 as the world’s 35th-richest person, he’s now No. 22 with a $41 billion net worth, leapfrogging tech titan Michael Dell, casino magnate Sheldon Adelson, Nike Inc. co-founder Phil Knight and several others.
ADVERTISEMENT
Panasonic Corp., which makes batteries for Tesla, said early Monday that the business turned profitable in the last quarter of 2019, triggering Tesla’s latest jump.
Musk, 48, owns about a fifth of Tesla’s outstanding stock, which comprises the bulk of his fortune. His majority ownership of closely held Space Exploration Technologies Corp. accounts for about $14.6 billion.
Tesla has been on a roll since October, and last month its market value eclipsed $100 billion -- a threshold it must maintain for an extended period for Musk to unlock the first chunk of his massive compensation package. By Monday’s close, Tesla’s market capitalization had reached $140.6 billion, less than $10 billion from a second pay hurdle.
ADVERTISEMENT
If Musk, 48, manages to hit all performance targets, which tops out with Tesla’s market value more than quadrupling from where it is now, he could collect more than $50 billion. In the meantime, he gets no salary.
The start of the year has been rockier for Bernard Arnault, the chairman of luxury-goods maker LVMH. His net worth has tumbled $7.8 billion, the most of anyone on Bloomberg’s 500-member ranking. He remains the world’s third-richest person with a $97.4 billion fortune.
ADVERTISEMENT
Jeff Bezos & Lauren Sanchez Bond With Bollywood; SRK Does A 'Don' Moment
1/14
The world's richest man, Jeff Bezos, with his girlfriend Lauren Sanchez in tow, met the who's who of the film fraternity at an Amazon Prime Video event in a Mumbai's luxurious hotel on Thursday night.
Bollywood stars and directors like Shah Rukh Khan, Zoya Akhtar, Vidya Balan, Farhan Akhtar, Kamal Haasan, among others, graced the event.
The Amazon CEO has been making news with his visit to Rajghat and tribute to Mahatma Gandhi during his three-day India trip.
Here's a quick look at all the B-town celebrities who met Bezos.
The world's richest man, Jeff Bezos, with his girlfriend Lauren Sanchez in tow, met the who's who of the film fraternity at an Amazon Prime Video event in a Mumbai's luxurious hotel on Thursday night..
Read More
Jeff Bezos (R) took part in a fireside chat with King Khan of Bollywood, Shah Rukh Khan (L), and director Zoya Akhtar (C). SRK took to social media to share an image with the Amazon co-founder of the 'fun and learning' event. He emphasised on the words 'Zordaar' (powerful) and 'Zabardast' (fabulous) to describe the evening.
Khan looked dapper in a black, three-piece suit, and Akhtar paired her shocking-pink dress with a long, black coat.
Actor Riteish Deshmukh (not picture) had shared an image on Twitter where SRK was seen making Bezos try his hand at a popular 'Don' dialogue.
Jeff Bezos (R) took part in a fireside chat with King Khan of Bollywood, Shah Rukh Khan (L), and director Zoya Akhtar (C). SRK took to social media to share an image with the Amazon co-founder of the..
Read More
All eyes were on Jeff Bezos as he walked the blue caret with his girlfriend Lauren Sanchez during the star-studdent event in Mumbai for his three-day India visit.
The Amazon CEO made a royal arrival in his white-and-black, textured blazer, while his lady love dazzled in a shimmering, red-and-black gown with giraffe-print, a plunging neckline and sheer sleeves.
(Image: ANI & PTI)
All eyes were on Jeff Bezos as he walked the blue caret with his girlfriend Lauren Sanchez during the star-studdent event in Mumbai for his three-day India visit.The Amazon CEO made a royal arrival i..
Read More
Actor Farhan Akhtar and singer-girlfriend Shibani Dandekar were twinning in black for the big night. The 'Rock On' star went for a desi twist with a black kurta and Nehru jacket, while Dandekar opted for a assymetric, off-shoulder dress with animal-print boots for the evening.
(Image: AFP)
Actor Farhan Akhtar and singer-girlfriend Shibani Dandekar were twinning in black for the big night. The 'Rock On' star went for a desi twist with a black kurta and Nehru jacket, while Dandekar opted..
Read More
Actor Vidya Balan attended the Amazon event with and her producer-husband Siddharth Roy Kapur.
The 'Kahani' star looked refreshing in a floral-print saree, and the Roy Kapur Films founder looked sharp in an all-black ensemble.
(Image: AFP)
Actor Vidya Balan attended the Amazon event with and her producer-husband Siddharth Roy Kapur.
The 'Kahani' star looked refreshing in a floral-print saree, and the Roy Kapur Films founder looked sh..
Read More
Veteran actor Kamal Haasan took a break from politics for the big Bollywood night in the financial capital of India.
The actor-turned-politician sported an athletic look in a black jacket, matching joggers and sports shoes.
(Image: AFP)
Veteran actor Kamal Haasan took a break from politics for the big Bollywood night in the financial capital of India.
The actor-turned-politician sported an athletic look in a black jacket, matching ..
Read More
The madly-in-love Deshmukhs for a whiff of fresh air.
Ritesh Deshmukh opted for a velvet, blue suit by Raghavendra Rathore with a bow-tie, and his actress-wife Genelia looked like a diva in a short, black dress by MéRo with multi-coloured, puffy, long sleeves.
(Image: AFP)
The madly-in-love Deshmukhs for a whiff of fresh air.
Ritesh Deshmukh opted for a velvet, blue suit by Raghavendra Rathore with a bow-tie, and his actress-wife Genelia looked like a diva in a short,..
Read More
The Mumbai event was a big night for couples.
Arshad Warsi (2nd L) with wife Maria Goretti (L), and Vivek Oberoi (2nd R) along with wife Priyanka Alva Oberoi (R) posed hand-in-hand for the shutterbugs.
While the men opted for black tailored suits, the ladies looked stunning in shades of white.
(Image: AFP & PTI)
The Mumbai event was a big night for couples.
Arshad Warsi (2nd L) with wife Maria Goretti (L), and Vivek Oberoi (2nd R) along with wife Priyanka Alva Oberoi (R) posed hand-in-hand for the shutterb..
Read More
Actress Richa Chadda (L) and actor-boyfriend Ali Fazal (2nd L) colour-coordinated in blue for the party. While the 'Fukrey' star wore a shimmering blue outfit, Fazal opted for a blue three-piece suit and red-tinted glasses.
'83' Director Kabir Khan (R) attended the party with wife Mini Mathur (R). The film-maker ket it simple in a black suit, while his wife dazzled in a beige saree and a peplum blouse with floral print.
(Image: AFP)
Actress Richa Chadda (L) and actor-boyfriend Ali Fazal (2nd L) colour-coordinated in blue for the party. While the 'Fukrey' star wore a shimmering blue outfit, Fazal opted for a blue three-piece suit..
Read More
Actor Rajkummar Rao (L) and actress-girlfriend Patralekha (R) were all smiles at the event. The 'Newton' actor looked dapper in an all-black ensemble, and the 'CityLights' star opted for an over-sized, beige jacket with a Louis Vuitton bag.
(Image: AFP)
Actor Rajkummar Rao (L) and actress-girlfriend Patralekha (R) were all smiles at the event. The 'Newton' actor looked dapper in an all-black ensemble, and the 'CityLights' star opted for an over-size..
