Tesla and SpaceX rise takes Elon Musk's fortune to US$ 924 billion
According to Times Brasil, Musk's net worth once again exceeded US$ 1 trillion according to Forbes' estimate, and he regained his position as the richest person in the world.
BY THE X-TRADER NEWS NEWSROOM · REPORTING FROM TIMES BRASIL · 2 MIN
Elon Musk's assets grew again and reached US$924 billion, according to Times Brasil. With the leap, the businessman regained his position as the richest person in the world.
The same report cites a Forbes estimate according to which Musk's assets once again exceeded US$1 trillion, equivalent to around R$4.99 trillion. The numbers deserve attention because they do not coincide: the headline speaks of US$924 billion, while the magazine's estimate exceeds the trillion mark.
The cause pointed out by Times Brasil is the rise in shares of SpaceX and Tesla, companies linked to the businessman. As fortune is calculated based on the market value of your holdings, each movement in these shares changes the total reported.
On Monday, the 5th, Musk's assets rose US$30.6 billion (R$152.6 billion) compared to the previous Friday's closing, according to Times Brasil. The data shows how quickly this account can change when shares move.
The case also illustrates the dependence on few assets. When a fortune of this size revolves around two companies, their performance begins to define a large part of the asset's results.
What changes for the investor
For those who operate on the Nasdaq, where Tesla is traded, the episode reinforces the importance of observing the concentration of risk in a single company or in the same group of companies. From the point of view of those who defend the free market, appreciation shows how the market rewards the creation of value, but the dependence on few assets calls for caution. The report does not provide price projections, and the reading here is limited to what the numbers reported indicate about the weight of these shares in Musk's wealth.
Automatically translated from Portuguese.
