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Technology

Elon Musk got $5 billion richer in the last 9 days

Summer is a time many go on vacation. Not Elon Musk, though. And it has paid off handsomely. In the last nine days, the iconic entrepreneur has gotten almost $5 billion richer, according to Bloomberg data.

Musk is currently worth $21.3 billion, putting him in the 37th spot on Bloomberg’s ranking of the wealthiest people in the world.

The surge in Musk’s wealth is twofold.

On July 27, his aerospace company, SpaceX, closed a $350 million equity funding round, pushing the value of the company to $21.2 billion, according to financial data analytics company CB Insights.

In 2015, SpaceX was worth only $12 billion. The jump in valuation added $4 billion to Musk’s net worth, according to Bloomberg.

Tesla’s stock price also surged 7 percent on Thursday, after the company announced its quarterly results — this despite some investors’ concerns about Tesla’s ability to deliver on its Model 3 production promise.

The increase in share price added $800 million to Musk’s fortune, according to Bloomberg.

Though making nearly $5 billion in just over a week is the sort of financial success that most only dream about, being CEO of multiple high-performing companies has its downside, according to Musk.

He opened up about it on Sunday, tweeting, “The reality is great highs, terrible lows and unrelenting stress.”

But that, he says, is part of what it means to be a multi-billionaire entrepreneur trying to change the world.

“If you buy a ticket to hell, it isn’t fair to blame hell,” he says.

Source: Tech CNBC
Elon Musk got billion richer in the last 9 days

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