Tesla chief executive Elon Musk has become the first person to cross the $300 billion net-worth threshold after his fortune surged by $10 billion in a day thanks to a Tesla share spike, a day before Microsoft regained the title of world's most valuable company, Daily Mail reported. Photo: (AP Photo/Kiichiro Sato, File)
Tesla chief executive Elon Musk has become the first person to cross the $300 billion net-worth threshold after his fortune surged by $10 billion in a day thanks to a Tesla share spike, a day before Microsoft regained the title of world's most valuable company, Daily Mail reported. Photo: (AP Photo/Kiichiro Sato, File)

Tesla chief executive Elon Musk is the first person to be worth over $300 billion

By IANS Time of article published Oct 31, 2021

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Tesla chief executive Elon Musk has become the first person to cross the $300 billion net-worth threshold after his fortune surged by $10 billion in a day thanks to a Tesla share spike, a day before Microsoft regained the title of world’s most valuable company, Daily Mail reported.

Musk’s net worth hit $302 billion as of Thursday, according to the Bloomberg Billionaires’ Index.

The increase of $10bn was due to a rise in Tesla shares on Thursday, after the electric car firm inked a huge deal with Hertz for the rental giant to buy 100 000 of its vehicles.

The mogul is now worth over $100bn more than the second-richest person on earth, Amazon founder Jeff Bezos. His fortune sits at $199bn.

On Friday, Microsoft regained its perch as the world’s most valuable company, with a $2.46 trillion market cap, after an Apple share slump saw the iPhone maker’s overall value plunge around four percent to $2.41 trillion.

This came after Apple fell just under 4 percent after lower than expected fourth-quarter revenues. Microsoft climbed 1.1 per cent to blow past Apple after higher than expected revenue estimates for an 11th straight quarter, the report said.

Microsoft is now more valuable than Apple for the first time since early 2020. The company is on pace for its biggest weekly gains since January, the report said

Musk is now worth more than the annual GDP of nations like Egypt, Portugal, the Czech Republic, Greece, Qatar and Finland.

He’s also worth more than the market value of PayPal, the company he co-founded, as well as streaming giant Netflix.

IANS

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