Musk Regains 'Centibillionaire' Title in Three Days

[Financial News]

The net worth of Elon Musk, the world's richest person, climbed back above $1 trillion on the 29th (local time).
In Forbes' real-time billionaires index, Musk's estimated wealth jumped by $72.2 billion, or 7.62%, on the day, pushing his net worth back to $1 trillion.
He reclaimed the world's first 'centibillionaire' title just three trading days after losing it on the 24th amid a sharp drop in SpaceX and Tesla shares.
Earlier, Musk became the world's first centibillionaire on the 12th, when SpaceX's blockbuster IPO sent his estimated assets above $1 trillion.
Musk regained the centibillionaire title on the 29th thanks to a surge in SpaceX and Tesla shares.
SpaceX rose 7.1%, while Tesla jumped 8.4%.
Most of Musk's assets are tied to his stakes in the two companies, so his wealth is highly sensitive to their stock movements.
Musk holds 42% of SpaceX and 12% of Tesla.
By simple calculation, the value of Musk's SpaceX stake rose by about $60 billion, while his Tesla stake increased by about $12 billion. As a result, his net worth grew by roughly $72.3 billion, or about 111 trillion won, in a single day.
According to the International Monetary Fund (IMF), Cameroon's gross domestic product (GDP) last year was just over $73 billion. Thanks to the sharp gains in SpaceX and Tesla, Musk earned about as much in a single day as Cameroon's annual GDP.
Meanwhile, the world's second-richest person is Google co-founder Larry Page, with an estimated net worth of $289.4 billion. Google co-founder Sergey Brin ranks third at $267 billion. Amazon founder Jeff Bezos is fourth with $250.2 billion, and Dell founder Michael Dell is fifth with $228.4 billion.

dympna@fnnews.com Song Kyung-jae Reporter