Elon Musk Overtakes MacKenzie Bezos on Rich List after Tesla Stock’s New Record

UTC by Daria Rud · 3 min read
Elon Musk Overtakes MacKenzie Bezos on Rich List after Tesla Stock’s New Record
Photo: Depositphotos

TSLA stock’s new record brought Tesla market cap to $254.39 billion. Yesterday, Tesla closed at $1,389.86 per share. Elon Musk’s fortune has reached $63.5 billion.

Tesla Inc (NASDAQ: TSLA) stock has lately been surging. On Monday, it reached a new all-time high, closing at $1389.86 per share. The record has not only allowed analysts to raise their price targets for Tesla stock but also made Elon Musk‘s net worth soar and surpass that of MacKenzie Bezos, the ex-wife of Amazon.com Inc (NASDAQ: AMZN) founder Jeff Bezos.

Owning roughly 34 million Tesla shares, Elon Musk has a fortune of $63.5 billion, topping MacKenzie Bezos ($60.4 billion), Charles Koch ($51.9 billion), and Jack Ma ($49.7 billion). Besides, he has surpassed Michael Bloomberg’s fortune of approximately $60 billion. But Musk still remains behind Jeff Bezos ($182 billion), Bill Gates ($115 billion), and Mark Zuckerberg ($91.2 billion).

Tesla stock’s new record brought Tesla market cap to $254.39 billion. In comparison, Toyota Motor Corp (NYSE: TM) cap is $174.413 billion.

In Q2 2020, Tesla manufactured more than 82,000 vehicles and delivered approximately 90,650 cars. And these figures really impress, taking into consideration the coronavirus pandemic that made Tesla suspend operations in Fremont factory. Musk wrote on his Twitter:

 

“While our main factory in Fremont was shut down for much of the quarter, we have successfully ramped production back to prior levels,” stated he.

Yesterday, Tesla closed at $1,389.86 per share. After hours, it slightly declined by 0.71% to $1,380.00.

Perks for Other Tesla Executives on Stock’s Record

Due to Tesla stock’s skyrocketing, there has appeared a so-called “generation of Tesla millionaires”. Among them are top executives like Drew Baglino, Tesla SVP of Powertrain and Energy Engineering, who owns 4,222 Tesla shares. As of July 7, his stake is worth more than $5.7 million. Another executive, the President of Automotive Jerome Guillen, has a net worth of over $13 million with his 9,752 Tesla shares. Tesla CFO Zachary Kirkhorn has 11,831 shares that are worth $16 million as of Monday.

Tesla’s leading engineers in manufacturing, construction, and batteries also have massive stock grants worth millions of dollars. Besides, Tesla gives performance-based equity bonuses that are now on hold because of the coronavirus crisis. But despite the suspension, employees who have kept shares since 2019, are taking a huge advantage from the current run of Tesla stock.

Panasonic CEO Says Elon Musk Is a ‘Genius’

Tesla may have a new partnership, the potential partner is Japanese Panasonic Corporation (TYO: 6752) that seeks to expand a battery partnership with Tesla. Looking at Tesla’s present performance, Panasonic CEO Kazuhiro Tsuga said that Elon Musk is “a genius who defies common sense and can be overly optimistic.”

Tsuga stated:

“I believe only geniuses can hold onto big visions, and a genius I know is Elon Musk.”

As he has explained, an optimistic genius like Musk can ignore inconvenient things and run straight ahead towards his vision.

Tsuga said:

“Compared to that vision, most things don’t really matter.”

Tesla and Panasonic have been collaborating for about a decade. However, the decision to expand their joint battery plant in Nevada came not long ago. Tsuga has even made a $1.6 billion bet on the Nevada factory.

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Daria Rud
Author Daria Rud

Daria is an economic student interested in the development of modern technologies. She is eager to know as much as possible about cryptos as she believes they can change our view on finance and the world in general.

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