Elon Musk may soon become first person with net worth of $300B

The Tesla CEO and world’s richest man, Ir added more than $36 billion to his fortune on October 25 after the automaker’s shares spiked 12.7 percent following the announcement that Hertz is ordering 100,000 vehicles to build out its electric vehicle rental fleet by the end of 2022, Report informs referring to CNBC.

The single-day growth of his fortune was the largest in the history of the Bloomberg Billionaires Index and equal to the net worth of the 34th richest person in the world. His $289 billion puts him almost $100 billion ahead of former No. 1 Jeff Bezos, who was worth $193 billion as of October 25, according to Bloomberg.

Musk has widened his lead over other former holders of the title of world’s richest person as well. He is now worth $184 billion more than Warren Buffett, who is currently the 10th richest person in the world and has a more than $150 billion lead on No. 4 Bill Gates.

Musk’s net worth is now so large that it has surpassed the market cap of the world’s second-largest automaker, Toyota, which is valued at around $283 billion. Tesla first passed Toyota in value in July 2020 to take the top spot.