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Elon Musk ‘richest person to ever walk the planet’

Written by: Leonard Parker | Houston Business News | 26th October


Following the announcement that the rental car company Hertz was set to add a fleet of 100,000 Tesla vehicles, Tesla's stock skyrocketed, surpassing $1 trillion in market value for the first time.

Joshua Bote, SFGATE

Oct. 26, 2021Updated: Oct. 26, 2021 2:58 p.m.

17 May 2021, Brandenburg: Elon Musk, Tesla CEO, stands on the construction site of the Tesla factory holding his hard hat. He has taken a look at the progress of construction of the new factory in Grünheide near Berlin, which will probably start production several months later than originally planned. The 49-year-old did not initially comment on Monday. Photo: Christophe Gateau/dpa (Photo by Christophe Gateau/picture alliance via Getty Images)

picture alliance/dpa/picture alliance via Getty I

Elon Musk just reached an unprecedented levels of wealth, according to Forbes.

Following the announcement that the rental car company Hertz was set to add a fleet of 100,000 Tesla vehicles, Tesla's stock skyrocketed, surpassing $1 trillion in market value for the first time at over $1,000 per share.

Consequently, Musk's own net worth reached record heights. At $255.2 billion, Forbes said, Musk could very well likely be "the richest person to ever walk the planet."

He's also wealthier than Facebook founder and CEO Mark Zuckerberg and Google co-founder Larry Page, who are ranked No. 6 and 7 on Forbes' list. 

The gap between him and Jeff Bezos has also widened since Musk surpassed the Amazon CEO in September, Bezos is estimated to be worth $194.1 billion.

Musk is far, far wealthier than the average American. His net worth is two million times more than the median American net worth in 2019 as estimated by the U.S. Federal Reserve.

Hertz's fleet of Teslas would largely be comprised of Tesla Model 3 cars, which cost around $40,000 per vehicle. The deal, according to some estimates, would cost Hertz $4 billion — in addition to the cost of the rental company expanding its network of charging stations. It is unclear how much a Model 3 rental will cost, especially as a rental car shortage is still ongoing.

The Associated Press contributed to this report.



Source: https://www.chron.com/business/article/Elon-Musk-richest-person-to-ever-walk-earth-Forbes-16565898.php