Tesla CEO, Elon Musk's net worth is now $115 billion, surpassing Facebook CEO Mark Zuckerberg on the list of the world's richest people, according to Financial website, Bloomberg.
According to Bloomberg, Musk's increase in wealth was propelled by Tesla's (TSLA) massive 12% stock gain on Monday August 31 after Tesla's 5-1 stock split.
The stock gain makes the Tesla founder and CEO the third-richest person in the world, behind Bill Gates and Jeff Bezos according to the Bloomberg Billionaires Index.
Apart from Tesla, Musk is also the founder of several other companies including SpaceX, The Boring Company, Hyperloop and OpenAI.
Musk's net worth exploded by nearly $90 billion this year. In January 2020, Musk's net worth was about $32 billion, with half of that wealth composed of Tesla shares
In 2020 alone, Tesla's stock soared about 500%, and the company is now worth about $475 billion.
Musk's pay package, which was approved by Tesla shareholders in 2018, doesn't pay him any salary or cash bonuses. Instead, the CEO gets paid in millions of stock options, worth billions of dollars.
The world's top five billionaires (in descending order) right now are: Jeff Bezos, Bill Gates, Elon Musk, Mark Zuckerberg and Bernard Arnault.