Elon Musk's fortune jumps $25 billion in one day

AFP

The surge in Tesla's share price and that of bitcoin helped South African billionaire Elon Musk earn $25 billion in one day.

He is now "only" $6 billion behind the world's richest man and Amazon CEO Jeff Bezos. The South African billionaire Elon Musk saw his fortune jump by 25 billion this Tuesday, March 9, according to the Bloomberg Billionaires ranking. A spectacular rebound, like the price of bitcoin in which his flagship company, Tesla, has just invested no less than 1.5 billion dollars.

More than 6 billion for Jeff Bezos

Valued at $149 billion at the beginning of the week, his assets are now worth $174 billion. And while he was 25 billion dollars behind his rival Jeff Bezos, Elon Musk is now only 6 billion away from the founder of Amazon for the title of largest fortune on the planet that the two entrepreneurs are fighting for.

The cause of this flight? Tesla's share price, which has risen 20% in one day following a very positive note from Pierre Ferragu of the independent firm New Street Research. The analyst estimates that the company can achieve earnings per share of $12 by 2023, nearly double the current consensus of industry experts. In addition to these optimistic projections, the recent surge in bitcoin since March has allowed Elon Musk to make this dramatic jump.

Source: AFP