What happens when your net worth is tied up in the stock price of the company you founded? And what happens if that company’s stock splits? Well, if you’re Elon Musk and your company is Tesla, the answer is apparently, “You become a lot wealthier.” Top 3 in the world, even.
At Bloomberg, Jack Pitcher has the details — including the fact that Musk is now wealthier than Mark Zuckerberg. According to the article, Musk’s net worth is now $115.4 billion, while Zuckerberg’s is $110.8 billion. The massive increase in Tesla’s stock price this year has contributed to Musk’s copious increase in wealth.
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Tesla announced its stock split earlier in the month. The 5-for-1 split caused existing shareholders to automatically increase the number of shares they held. When the markets closed on Monday, Tesla shares were selling for $498.32 — not a small amount at all, but significantly less than what the shares cost before the split.
For a company that had faced an SEC investigation earlier this year, and whose founder has a habit of stating bizarre things on Twitter, it’s an unexpected turn of events. Musk may be a centibillionaire now — dear lord, there’s actually a word for that — but he’s also still making random Rick & Morty references on social media.
It’s a strange world these days.
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