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Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

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Bigger Than Exxon: Elon Musk's Net Worth Tops Exxon Market Value

  • Elon Musk, the world's richest person, saw his net worth jump by $36.2 billion on Monday to a total of $288.6 billion
  • Musk's net-worth now exceeds the market cap of oil supermajor ExxonMobil

As Tesla's market capitalization shot past the $1-trillion mark on Monday, its chief executive Elon Musk added another $36 billion and change to his net worth, which now exceeds the market cap of oil supermajor ExxonMobil.

Elon Musk, the world's richest person in the Bloomberg Billionaires Index, a daily ranking of the world's richest people, saw his net worth jump by $36.2 billion on Monday to a total of $288.6 billion.

To compare, as of closing on Monday, Exxon's (NYSE: XOM) market capitalization was $272.4 billion.

Musk has added $119 billion to his net worth so far this year to October 26, according to the Bloomberg Billionaires Index, staying comfortably in the lead ahead of Jeff Bezos, whose net worth as of Tuesday was "just" $193 billion.

Musk acknowledged Tesla's $1-trillion market cap on Monday with a "Wild $T1mes!" tweet

Tesla (NASDAQ: TSLA) topped the $1-trillion threshold yesterday after receiving the single largest order for electric vehicles in the world. Car rental giant Hertz said on Monday it had placed an order for 100,000 Teslas by the end of 2022.

Tesla's shares were also boosted by new data showing that that Model 3 became Europe's best-selling car in September, outselling gasoline-powered cars. In September, Tesla's Model 3 became the first EV to top the general model rankings, outselling established brands including Fiat, Nissan, and Seat, automotive business intelligence provider JATO Dynamics said on Monday.

"This is both first time that an EV has led the market and the first time that a vehicle manufactured outside of Europe has occupied the top spot," JATO Dynamics said, noting that the strong performance of the Model 3 "is in part explained by Tesla's intensive end-of-quarter sales push."

Tesla's stock has gained 40.44 percent so far this year. Exxon, although now worth less than Elon Musk, has seen its shares jump by 55.06 percent year to date amid a rally in oil prices. 

By Tsvetana Paraskova for Oilprice.com

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  • Kay Uwe Boehm on October 26 2021 said:
    Huge earth orbit transit hotel for normal airport A380 hypersonic aerospace flights scheduled ?

    New A380 with 4 wings in front set higher without tanks only in middle inside double dense 700+ bar CNG tank as securest place and O2 tank start booster for outer space flights increased and outer shell out of titanium diboride with vacuum chamber isolation to inner titanium shell.
  • George Doolittle on October 27 2021 said:
    Wow, really?

    Elon Musk can afford to fuel his own rockets?
    News indeed..

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