BILLIONAIRE MAKES KSH 1.2 TRILLION OVERNIGHT

Elon Musk made a staggering 1.4 trillion on Wednesday night as his trajectory towards becoming the richest man on earth continues.

With the sudden surge in fortune, Elon Musk overtook billionaire Zuckerberg in terms of wealth. Elon Musk is now worth Ksh 12 trillion against Zuckerberg’s 11 trillion.

This was necessitated by the announcement of Musk’s addition to the S&P 500 (a stock market index that measures the stock performance of 500 large companies).

According to Business Insider, Musk has not sold any of his stakes since 2016. The Guardian reported the 49-year-old business magnate is set to be the third richest person in the world.

Musk’s wealth could soar higher as Tesla’s share price growth puts him on target for a bonus deal that could pay him a record KSh 6 trillion.

In July 2020, Musk’s Tesla overtook Toyota becoming the world’s most valuable carmaker.

Shares in Tesla have surged since the start of 2020 as investors have begun to feel more confident about the future of electric vehicles.

Although Toyota sold over 30 times more cars than Tesla, in July Tesla had $4 billion more than the Japan company in stock market value.