Elon Musk Now The World’s Fifth-Richest Person (Again), After $7 Billion Bump From Tesla Stock Surge

Published 4 years ago
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Tesla shares spiked 11.2% on Monday, boosting Elon Musk’s net worth by $7 billion to $83.6 billion. The hefty stock gain makes the 49-year-old entrepreneur the fifth-richest person in the world, pushing Musk ahead of Indian oil and gas tycoon Mukesh Ambani and investing luminary Warren Buffett.

Not that he’s keeping track. The eccentric billionaire says he’s indifferent to his standing on our rich list. “I really couldn’t care less,” Musk emailed Forbes about his net worth in July. “These numbers rise and fall, but what really matters is making great products that people love.”

Musk first rose to fifth place in late July, when his net worth topped $74 billion, but was soon surpassed by Ambani. Now Tesla shares are up nearly 32% in the past five days. With the stock on a tear, Musk’s fortune has more than tripled since mid-March, when he ranked 31st on Forbes’ World’s Billionaires list. He owns 21% of Tesla but has pledged more than half his stake as collateral for loans; Forbes applies a discount to his shares because of the loans.

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The stock jumped on Monday after an analyst upgraded his 12-month price target to $1,900; Tesla’s share price is currently $1,835.64. Wedbush analyst Dan Ives believes that Tesla, which opened a new factory in Shanghai in late 2019, is well-positioned to take advantage of increasing Chinese demand for electric vehicles. Ives also predicted that Musk will reveal “game-changing” news at the upcoming Battery Day on September 22.

Tesla is the most valuable automaker in the world, with a market capitalization of $342 billion despite producing substantially fewer vehicles than competitors such as Ford and Toyota. A five-for-one stock split will take effect after the market closes on August 28.

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-Hayley C. Cuccinello, Forbes Staff

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African Billionaires in 2025

Click on a billionaire to view their profile

RANK: 1
Aliko Dangote
Aliko Dangote
NET WORTH: $23.9 BTREND:
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RANK: 2
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NET WORTH: $14 BTREND:
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RANK: 3
Nicky Oppenheimer & family
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RANK: 4
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NET WORTH: $9.6 BTREND:
COUNTRY: Egypt
RANK: 5
Mike Adenuga
Mike Adenuga
NET WORTH: $6.8 BTREND:
COUNTRY: Nigeria
RANK: 6
Abdulsamad Rabiu
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NET WORTH: $5.1 BTREND:
COUNTRY: Nigeria
RANK: 7
Naguib Sawiris
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NET WORTH: $5 BTREND:
COUNTRY: Egypt
RANK: 8
Koos Bekker
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NET WORTH: $3.4 BTREND:
COUNTRY: South Africa
RANK: 8
Mohamed Mansour
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NET WORTH: $3.4 BTREND:
COUNTRY: Egypt
RANK: 10
Patrice Motsepe
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NET WORTH: $3 BTREND:
COUNTRY: South Africa
RANK: 10
Issad Rebrab & family
Issad Rebrab & family
NET WORTH: $3 BTREND:
COUNTRY: Algeria
RANK: 12
Mohammed Dewji
Mohammed Dewji
NET WORTH: $2.2 BTREND:
COUNTRY: Tanzania
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Michiel Le Roux
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NET WORTH: $2.2 BTREND:
COUNTRY: South Africa
RANK: 14
Othman Benjelloun & family
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RANK: 14
Anas Sefrioui & family
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NET WORTH: $1.5 BTREND:
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RANK: 16
Christoffel Wiese
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NET WORTH: $1.5 BTREND:
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Youssef Mansour
Youssef Mansour
NET WORTH: $1.4 BTREND:
COUNTRY: Egypt
RANK: 21
Yasseen Mansour
Yasseen Mansour
NET WORTH: $1.2 BTREND:
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RANK: 21
Strive Masiyiwa
Strive Masiyiwa
NET WORTH: $1.2 BTREND:
COUNTRY: Zimbabwe