The wealth of the world’s richest person jumped to $288.6 billion Monday, according to the Bloomberg Billionaires Index. The $36.2 billion gain followed a surge in Tesla Inc.’s stock price after Hertz Global Holdings Inc. ordered 100,000 cars.
shares rose 13 per cent, pushing its market value past $1 trillion. In the electric-car company, of which Musk is co-founder and chief executive officer, about two-thirds of his net worth is tied directly to shares and options in the company. It was observed that Tesla shares have climbed in recent weeks, even before the Hertz deal. As investors continue to reward green technologies, the auto maker’s stock price is up 45% this year, more than double the gain of the S&P 500 Index.