Elon Musk, Jack Dorsey, Twitter

South African-born entrepreneur Elon Musk’s net worth topped US$100-billion on Friday, according to the Forbes real-time billionaires list, as the shares of electric-car maker Tesla see a more than fivefold surge in value this year.

A large chunk of his wealth comes from the 21% stake in Tesla, according to Forbes. Tesla shares, which went public at $17 apiece in 2010, rose as much as 3.5% in morning trade to a record high of $2 318.49.

The company became the world’s most valuable carmaker by market capitalisation on 1 July when it overtook front runner Toyota and has over the last 10 years made many of its retail investors millionaires.

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Musk is now part of an elite club of just four others with twelve-digit net worth. His $100-billion (or R1.66-trillion), however, is just about half the net worth of the world’s richest man and Amazon.com CEO Jeff Bezos, according to Forbes.

Musk, who co-founded and sold Internet payments company PayPal, now leads some of the most futuristic companies in the world.

Tech Central


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