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Elon Musk Is Now The Seventh Richest Man In The World
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Elon Musk's Wealth Has Jumped 55 Percent So Far This Year

Elon Musk's Wealth Has Jumped 55 Percent So Far This Year

SpaceX founder Elon Musk has seen his wealth increase by 55 percent since the start of the year - adding a staggering $15.5 billion (£12.2bn) to his personal fortune, according to Bloomberg's Billionaires Index.

Musk is now worth $43.1 billion (£34bn) and is the billionaire whose fortune has grown by the highest percentage so far this year, but others have accumulated a greater amount of cash. Amazon's Jeff Bezos' wealth grew by $33.5 billion (£26.4bn) in the same time, an increase of 29.1 percent.

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His total fortune stands at $148 billion (£117bn), according to Bloomberg.

Facebook's Mark Zuckerberg has also has a good year so far, increasing his fortune by 9.7 percent, which is equivalent to $7.62 billion (£6bn).

Elon Musk's wealth has increased by 55 percent since the start of the year. Credit: PA
Elon Musk's wealth has increased by 55 percent since the start of the year. Credit: PA

It's been an eventful couple of weeks for Musk, with the successful launch of SpaceX's Falcon 9 rocket last Saturday (30 May), carrying astronauts Douglas Hurley and Robert Behnken to the International Space Station.

It marked the first time US astronauts have been sent into orbit from US soil since the Space Shuttle was retired nine years ago. It was also the first time NASA astronauts had been sent into space on a rocket built by a private company.

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Then on Wednesday 3 June, Musk launched another 60 Starlink satellites, aiming to provide 'affordable internet across the globe'.

It was the eighth group of Starlink satellites Musk has managed to launch, taking the total to around 500. Musk plans to eventually launch 800 satellites.

SpaceX's Falcon 9 carried astronauts Doug Hurley and Bob Behnken to the International Space Station. Credit: PA
SpaceX's Falcon 9 carried astronauts Doug Hurley and Bob Behnken to the International Space Station. Credit: PA

Meanwhile, Musk's electric vehicle company Tesla plans to launch a battery which will last for a million miles for the Model 3 sedan later this year or early next.

The company expects it'll bring the cost of electric vehicles down and allow the batteries to have second and third lives, making them more equal to normal petrol and diesel cars.

It means that the scope for electric vehicles has changed as Tesla tests the boundaries and pushes forward with innovation in the industry.

Dan Ives and Strecker Backe from investment firm Wedbush Securities explained to Business Insider what Tesla's new battery means for the future of electric cars.

They said: "In our opinion this battery technology will be very advanced, potentially last for decades, withstand all types of weather/terrain, and be another major milestone for the Tesla ecosystem. In theory, this battery will support an electric vehicle for 1 million miles and be a major step forward when competing vs. traditional gasoline-powered automotive competitors."

Featured Image Credit: PA

Mischa Pearlmen

Mischa is a freelance journalist usually based in either New York or London. He has written for Kerrang!, Record Collector, NME, the New York Observer and FLOOD magazine, among others. Contact him at [email protected]