Elon Musk's Net Worth Has Increased By Billions In A Single Day

On Monday, the increase in Musk's net worth has been fueled by an order for 1 lakh Tesla automobiles from Hertz, a US-based car rental company, which propelled Tesla's stock up 13%. With the acquisition, his fortune grew by $36 billion, the largest one-day gain in the history of Bloomberg's Billionaire Index, a daily listing of the world's wealthiest people that began in 2012.

Jeff Bezos of Amazon is the world's second richest person, with $192.6 billion.

However, Tesla shares and options account for the majority of Musk's net worth, and some analysts believe the company's price is overvalued. He also controls Space X, a private business with a market capitalization of $100 billion.

Tesla was also granted admission to the exclusive trillion-dollar club, which presently includes only Apple, Amazon, Microsoft, and Alphabet which owns Google.

On Twitter, US-based journalist Edward Luce made the connection between Musk's new net worth and Pakistan's GDP. It mentioned, among other things, that Tesla has a junk bond rating, which indicates it has a high yield but also a significant risk.

The report stated,Tesla's almost $10 billion in long-term debt was recently upgraded to BB+, one notch below investment grade. WhileTesla's sales and earnings are considerably lower than others, the article added. According to the New York Times, Tesla's sales prediction for next year is around $6 billion, which is one fifth of Amazon's forecast, weighing in on the dispute over Tesla's valuation. Then there's the US Securities and Exchange Commission's 2018 fraud action, which Musk and Tesla resolved for $40 million without admitting guilt. Musk allegedly misled investors by tweeting about a potential purchase of his firm, according to the commission.