Author: Palak

Tesla has become the most extravagant automaker in the world, with a market capitalization of $342 billion.

According to Tesla’s news Elon Musk’s net worth boosted up by $7 billion to $83.6 billion, a peak of 11.2% on Monday. The vigorous stock gain makes Elon the fifth richest person pushing him ahead of Indian oil and gas tycoon Mukesh Ambani and investing luminary Warren Buffett.

The unconventional billionaire Elon says he’s not concerned about his standing on the being rich list. “I really couldn’t care less,” Musk emailed Forbes about his net worth in July. “These numbers rise and fall, but what really matters is making great products that people love.”

He first gets up to fifth place in late July, with his net worth topped $74 billion but was surpassed by Ambani shorty. He ranked No. 31 on Forbes’ World’s Billionaires list during mid-March. About 21% of Tesla is owned by him but promised half of his stake as collateral for loans. Forbes also applies a discount on his shares because of his loans.

As an analyst upgraded his 12-month price target to $1,900 after that the stock jumped on Monday. Tesla’s share price is currently $1,835. Wedbush analyst Dan Ives is of the opinion that Tesla, which opened a new factory in Shanghai in 2019, is feasible and well-positioned to take advantage of increasing Chinese demand for electric vehicles. Ives also foretold that Musk will unveil “game-changing” news at the upcoming Battery Day on September 22.
A five for one stock split will take place after the market closes on August 28.

Elon Musk 5th Richest Person in the World 2020

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