Elon Musk Is The Latest To Join The Centibillionaire Club
Elon Musk is the latest member to join the centibillionaire club alongside Facebook boss Mark Zuckerberg, Amazon founder Jeff Bezos, and co-founder of Microsoft Bill Gates. There would be some serious cash at that dinner party.
The 49-year-old tech entrepreneur had his net worth pushed over the brink as Tesla Inc. shares rallied on Wednesday (26 August), according to the Bloomberg Billionaires Index.
Figures show the Tesla boss now has a net worth of $101 billion (£76.1 billion).
Musk's fortune increased by $73.6 billion (£55.5bn) this year and while he's sat in his counting house, so is Jeff Bezos, who topped $200 billion (£150bn) yesterday (26 August).
According to Bloomberg, the world's 500 richest people have gained $809 billion (£614bn) so far this year, a 14 percent increase since January even during a global pandemic. I think we can all agree that we've contributed to Bezos' fortune over this period.
However, there's one person who definitely isn't chuffed about the fortune these fellas have and that's US Senator Bernie Sanders, who introduced a bill to tax 'extreme' wealth gains during the coronavirus crisis.
He said: "We cannot continue to allow billionaires like Jeff Bezos and Elon Musk to become obscenely rich while millions of Americans face eviction, hunger and economic desperation. It's time to fundamentally change our national priorities."
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Earlier this month, Mark Zuckerberg was also announced as another person to tip the centibillionaire mark.
Facebook's shares surged after it was announced the company would be launching a rival to video-sharing platform TikTok.
The Bloomberg Billionaires Index, the daily ranking of the world's richest people, announced the news shortly after Facebook announced the rollout of Instagram Reels.
Reels invites you to create fun videos to share with your friends or anyone on Instagram. You can record and edit 15-second multi-clip videos with audio, effects and new creative tools.
Reels can be shared with your followers on Feed, and, if you have a public account, make them available to the wider Instagram community through a new space in Explore.
The announcement about the rollout of Instagram Reels came as US president Donald Trump signed an Executive Order in his fight to ban social media app TikTok from America.
Trump's ruling says America 'must take aggressive action against the owners of TikTok to protect our national security'.
Featured Image Credit: PA