Elon Musk becomes the fourth richest in the world and Amancio Ortega falls to 16th place

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Amancio Ortega is ranked 16th after suffering the second largest drop among the components of the Bloomberg ranking

The American businessman Elon Musk, founder of the electric car manufacturer Tesla, has become the fourth richest person in the world, after his wealth increased by almost 8,000 million dollars (6,722 million euros) in a single day, raising his fortune to 84.800 million dollars (71.250 million euros) and ousted the French luxury magnate Bernard Arnault, president and CEO of LVMH.

According to the figures collected in the Bloomberg Billionaires Index, Elon Musk’s equity shot up this Monday by $ 7,780 million (6,535 million euros) boosted by the strong revaluation experienced by Tesla shares, of which the businessman is the main shareholder with around 18% capital.

In Monday’s session, the titles of the car manufacturer named in honor of the engineer of Serbian origin Nikola Tesla achieved a revaluation of 11.4%, reaching a record price of $ 1,835.64, which rises to more than 342,000 million dollars (287,263 million euros) the capitalization of the company.

The rally in the price of Tesla, which has risen 339% so far this year, from the $ 418.33 it marked at the end of 2019, has intensified in recent sessions before the company executes a ‘ split ‘whereby each shareholder registered on August 21 will receive a dividend of four additional common shares for each security they hold.

The new shares will be distributed at the close of trading on August 28. This move by Tesla joins that made by other companies, such as Apple, which also announced a few weeks ago that its shares would be multiplied by four to lower the price of its securities.

In this way, Tesla’s rise on Wall Street has also driven Elon Musk’s rise among the richest on the planet, with an increase in his personal fortune estimated at some 57.2 billion dollars (48.039 million euros) in 2020.

With the rise of Elon Musk to fourth place among the great fortunes, the great American technology leaders monopolize the most relevant positions of the index, led by Jeff Bezos, founder and CEO of Amazon, with an estimated fortune of about 188,000 million dollars ( 157,910 million euros), ahead of Bill Gates, founder of Microsoft, with a net worth of 121,000 million dollars (101,634 million euros), and Mark Zuckerberg, founder and CEO of Facebook, whose estimated wealth is around 99,000 million dollars (83,155 million euros).

In fact, the impact of the pandemic on the global economy and consumption habits has only accentuated the predominance of technological wealth, since the top ten positions in the index include seven people whose wealth is largely related to technology. sector, including Steve Ballmer, former CEO of Microsoft, in eighth position, just ahead of Google founders Larry Page and Sergey Brin.

AMANCIO ORTEGA FALLS TO POST 16
For his part, Amancio Ortega appears as the first Spanish (position 16) in the index prepared by Bloomberg, with an estimated fortune of 59,700 million dollars (50,129 million euros), which represents a fall so far this year of about 15.8 billion dollars (13.267 million euros), the second highest among the 500 members of the list, only behind the decline of 20.700 million dollars (17,357 million euros) in the assets of Bernard Arnault.

Behind Amancio Ortega, the only Spaniards in the ranking are his daughter Sandra Ortega, with an estimated wealth of 6,930 million dollars (5,808 million euros), which represents a decrease of about 971 million dollars (814 million euros ) in 2020, as well as businessman Rafael del Pino, president of Ferrovial, with a net worth of about 4.86 billion dollars (4.074 billion euros).

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