As billionaire Elon Musk rapidly approaches a net worth of $300 billion following Tesla’s market cap of over $1 trillion, he might have just surpassed one of his biggest rivals, ExxonMobil.
Last week, Elon Musk was said to have a net worth of $289 billion according to the Bloomberg Billionaires Index. This is high above ExxonMobil’s market share value of $272 billion.
Elon Musk’s raise in net worth can be attributed to two major factors after the rise of Tesla’s shares by more than 12%, Hertz made an announcement of a record order of 100,000 Teslas for its fleet, making the price target on Tesla raised to $1,200 per share by auto analyst Adam Jonas. This gain in one day succeeded in putting tesla above the $1 trillion mark.