Elon Musk is now the fifth richest man on the planet

Innovator and businessman Elon Musk skyrocketed the Forbes billionaire list this month, overtaking Warren Buffett and Steve Ballmer. Musk’s net worth exceeded $ 74 billion, making him the fifth richest person in the world.

Musk is the CEO of SpaceX and Tesla. Tesla shares rose another 9.5% to $ 1,643.00 in Monday trading, up 60% in just three weeks from June 29 and nearly 300% in 2020 alone.

Tesla is now the most valuable automobile company in the world with a market capitalization of $ 304.5 billion, worth more than Ford, Ferrari, General Motors and BMW combined.

Back in mid-March, Musk was ranked 31st on the Forbes list of billionaires, with a net worth of just under $ 25 billion. Since then, his fortune has almost tripled.