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Elon Musk hits new milestone, adds a record $25 billion in just one day

Musk and Bezos have been battling for the highest spot on the Bloomberg wealth index because the Tesla founder took over in January, the month his fortune hit $210 billion.

Bloomberg

PUBLISHED ON MAR 10, 2021 05:57 PM IST

Elon Musk simply hit a brand new milestone: He made a report $25 billion in sooner or later.

Tesla Inc.’s 20% leap on Tuesday — its greatest in additional than a yr — pushed the billionaire founder’s fortune to $174 billion, closing the hole with Jeff Bezos, the world’s richest individual, in accordance with the Bloomberg Billionaires Index. The highest 10 largest wealth gainers, all from the tech business, added $54 billion mixed.

After three weeks of declines that despatched the Nasdaq 100 Index down 11% from a peak, U.S. tech shares staged a stellar rally on Tuesday that lifted nearly all the gauge’s members. The surge in Bezos’s Amazon.com Inc. helped him achieve $6 billion, taking his web price to $180 billion, whereas Colin Huang of Chinese language on-line buying platform Pinduoduo Inc. added nearly as a lot.

Musk and Bezos have been battling for the highest spot on the Bloomberg wealth index because the Tesla founder took over in January, the month his fortune hit $210 billion. Since then, Bezos regained the title of world’s richest as shares of the electric-car maker sank as a lot as 36%. Now the 2 tycoons are lower than $6 billion aside.

On Tuesday, Tesla additionally benefited from an improve by New Avenue Analysis analyst Pierre Ferragu, who advisable shopping for the inventory, and a rally in Bitcoin.

The positive factors distinction with the outstanding fall of China’s bottled-water king Zhong Shanshan, who in December unseated India’s Mukesh Ambani as Asia’s richest individual and surpassed Warren Buffett in January, turning into the sixth-wealthiest on the earth. Zhong is now the most important loser of the yr and has dropped off the record of the highest 15 on the Bloomberg rating. Tencent Holdings Ltd.’s Pony Ma is again to being China’s richest, with a fortune of just about $64 billion.

This story has been printed from a wire company feed with out modifications to the textual content. Solely the headline has been modified.

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