I operate on the physics approach to analysis. After Tesla's stock (TSLA) jumped 11%, Elon Musk's net worth hit $70.5 billion and he passed Warren Buffett on the list of the world's richest people. Elon Musk recently updated an eager neuroscience community on the progress of his innovative brain-machine interface – Neuralink. The gains mark a dramatic comeback for a company that had earlier been struggling to boost sales. © 2020 Forbes Media LLC. (Reuters) - Silicon Valley entrepreneur Elon Musk's net worth topped $100 billion on Friday, according to the Forbes real-time billionaires list, … Last week, Elon Musk indicated that SpaceX’s satellite-based Internet business, Starlink, had launched enough satellites to start public beta services in parts of the northern U.S. and southern Canada. As of this writing, that makes him one of the 5 richest people on the planet. (Reuters) - Silicon Valley entrepreneur Elon Musk's net worth topped $100 billion on Friday, according to the Forbes real-time billionaires list, as the shares of electric-car maker Tesla Inc. see a more than five-fold surge in value this year. Catch up on the developing stories making headlines. He landed in the U.S. as … This caught the attention of securities regulators and the Department of Justice. The sell-off also comes on the heels of a 5-for-1 stock split that went into effect on Aug. 31. Despite the robust stock market recovery, experts have warned that equating those gains to an overall economic rebound can be misleading and that not enough Americans are truly benefiting. Latest spat in self-driving of Waymo and Elon Musk reveals steering troubles. The technology has the potential to revolutionize the treatment of a wide array of neurological conditions but should disabled people believe the hype? Our Standards: The Thomson Reuters Trust Principles. Elon Musk is, without a doubt, one of the most influential people on the planet. See here for a complete list of exchanges and delays. These questions may have in part prompted the steep sell-off that began last week and has since wiped out nearly 30% of Tesla's market capitalization. Amazon shares also fell late in the week. The decline now makes him the world's sixth richest person, down from fourth. Musk, who co-founded and sold Internet payments company PayPal Holdings Inc PYPL.O, now leads some of the most futuristic companies in the world. Elon Musk’s company SpaceX has won a contract to build satellites for the U. S. Department of Defense, its first contract to build satellites for the military. His nearly $100 billion, however, is just about half the net worth of the world's richest man and Amazon.com Inc, Musk, who co-founded and sold Internet payments company PayPal Holdings Inc. , now leads some of the most futuristic companies in the world. CoverGirl Maye Musk On The Secret To Her Success At 70, Hidden Factor Steering For Trouble In Latest Elon Musk Versus Waymo Self-Driving Cars Squabble, Bachelor of Arts/Science, University of Pennsylvania. The upshot: Jeff Bezos is no longer a $200 billion man. By Wednesday afternoon, they had rebounded slightly, gaining back nearly 6%. Elon Musk's net worth plunged by $16.3 billion in a single day, Scrubs brand under fire for 'insensitive' ad featuring female physician, How to watch ABC News' Joe Biden town hall, 'A deep sickness': Former Republican strategist sounds off on 'Trumpism', Man who recently ran for governor arrested for murder of 12-year-old girl. MORE: Elon Musk poses a 'serious risk of reputational harm' to Tesla, advisory firm warns, MORE: Jeff Bezos breaks new record as his net worth tops $200 billion, not enough Americans are truly benefiting. The losses for Musk, 49, came as Tesla shares dropped 21% Tuesday, their biggest single-day fall ever. According to the company, “The initial goal of our technology will be to help people with paralysis to regain independence through the control of computers and mobile devices.”. Elon Musk Down Nearly $10 Billion In One Week As Tech Stocks Plunge, ‘Elon Musk Of China’ Regains Billionaire Status With 472% Stock Surge, Elon Musk Becomes The World’s Fifth $100 Billion-Dollar Man. All quotes delayed a minimum of 15 minutes. The unconventional serial entrepreneur joins the centibillionaire club, alongside Mark Zuckerberg, Bernard Arnault, Bill Gates and Jeff Bezos. Elon Musk on Monday teased an IPO for SpaceX’s satellite internet business, but added that it would “several years into the future.”. SpaceX, Musk's rocket company, is now valued at nearly $36 billion. Hype and hyperbole aside, what “big” announcements can we expect from Elon Musk on Tesla Battery Day? Elon Musk's net worth took a steep nosedive on Tuesday, plummeting by more than $16 billion in one day after Tesla stock tumbled. Tesla shares, which went public at $17 a piece in 2010, rose as much as 3.5% in morning trade to a record high of $2,318.49. The SEC's investigation of EV company Nikola raises important questions for Tesla's Battery Day. Besides Tesla, he heads rocket company SpaceX and Neuralink, a startup that is developing ultra-high bandwidth brain-machine interfaces to connect the human brain to computers. He grew up in South Africa, then immigrated to Canada at age 17. SpaceX, Musk's rocket company, is now valued at nearly $36 billion. The wealth of the top 1% has swung widely since the pandemic began, largely at the whim of U.S. equity markets. The wealth of the top 1% has swung widely since the pandemic began, largely at the whim of U.S. equity markets. Will It Deliver? The Tesla chief executive, who owns about 20% of the electric carmaker's shares, saw his personal wealth plunge $16.3 billion to $82.3 billion, according to Bloomberg's real-time Billionaires Index. Musk was accepted to a graduate program at Stanford, but deferred attendance to launch his first business, software company Zip2. Will Elon Musk's Son's Name Disrupt Data Quality Standards? The history-making model on the power of perseverance, rewriting the rules of the fashion industry, and raising billionaire entrepreneur Elon Musk. © 2020 Forbes Media LLC. Musk is now part of an elite club of just four others with twelve digit net worth. Musk and the nine other biggest billionaire gainers this week are a combined $41.7 billion richer. In the week through October 9, Tesla CEO Elon Musk was the second biggest gainer, up $3.5 billion. He landed in the U.S. as a transfer student to the University of Pennsylvania. Elon Musk is working to revolutionize transportation both on Earth, through electric car maker Tesla - and in space, via rocket producer SpaceX. As of October 2020, Elon Musk has an estimated net worth of over $25 billion. 24/7 coverage of breaking news and live events. He grew up in South Africa, then immigrated to Canada at age 17. The dip is the largest single-day wipeout record in the history of the index, according to Bloomberg. Reporting by Subrat Patnaik in Bengaluru; Editing by Arun Koyyur. Musk is now part of an elite club of just four others with twelve digit net worth. SpaceX’s Starlink Set To Begin Public Beta. Elon Musk $13 Billion Richer In One Week As Tesla Stock Rises Ahead Of ‘Battery Day’. Could Elon Musk’s Neuralink Be A Game-Changer For People With Disabilities? Summary: Elon Musk's net worth is $103 billion. All Rights Reserved. Still, even including this past week's tumble, Tesla shares have spiked more than 300% since the beginning of the year. A large chunk of his wealth comes from the 21% stake in Tesla, according to Forbes. He owns 21% of Tesla but has pledged more than half his stake as collateral for loans; Forbes has discounted his stake to take the loans into account.