The world’s richest billionaire, Elon Musk has seen his net worth rise by $46 billion in less than six days to $257 billion. This is according to data from the Bloomberg Billionaires Index.
The CEO of Tesla, the world’s most valuable carmaker, is growing his net worth, gradually recuperating part of his net value lost earlier in the year, to the bearish equities market. His year-to-date loss has now been reduced to $13.6 billion.
Musk is also the CEO of SpaceX, a rocket manufacturer tapped by NASA to resupply the space station. The company is valued at $100 billion, with Musk owning about 54% of the company’s shares held through a trust.
His $257 billion fortune can afford him, 131 million troy ounces of gold, 2.16 billion barrels of crude oil, and represents 1.23% of the United States GDP. His net worth is also equivalent to the following;
- 3.27% of the total wealth of the 500 richest people in the world
- 64.9% of the top 100 United States college endowments
- 4,065% of the top 200 United States executives total awarded compensation
- 11.5% of United States existing home sales
- 3.802,438 times the median United States household income
The second richest man, Jeff Bezos’s net worth has however seen a decline. As of the 23rd of this month, his net worth jumped to $190 billion because there was a strong buy-side pressure on Amazon stock. However, as of today, his net worth has declined to a $188 billion, which is approximately a $2 billion decline in just two days.
Meanwhile, Elon Musk had tweeted last week that it is better to buy physical assets in times of high inflationary pressure, rather than hold onto dollars. His tweet read;
“As a general principle, for those looking for advice from this thread, it is generally better to own physical things like a home or stock in companies you think make good products, than dollars when inflation is high.”
He also added that “I still own & won’t sell my Bitcoin, Ethereum or Doge fwiw.”
This is particularly good bitcoin and ethereum are beginning to recover from selloff declines as bitcoin has hit $44k as of press time and ethereum is trading over $3K