Biden Brings Musk Back to the Top Three Richest in the World
OREANDA-NEWS. The US presidential administration has reached an agreement with a bipartisan group of senators on a bill to expand the infrastructure for electric vehicles. Elon Musk, who founded electric car company Tesla and aerospace company SpaceX, benefited most from this consensus between legislators and authorities. He is again in the top three richest in the world.
Musk, now the third richest person in the world, grew $ 9.9 billion to end the week at $ 165.9 billion, according to Forbes. Musk owns 21% of Tesla shares, which are becoming more expensive as the state plan for the electrification of US vehicles is approved.
Tesla shares were up 9% on Wednesday and Thursday and 7.8% over the week. Tesla easily outpaced gains in major stock indexes, with the S&P 500 up 2.7% this week and the Dow Jones Industrial Average up 3.4%.
Despite a surge this week, Tesla's share price is still 24% below its January record, when Musk briefly became the richest man in the world. In February, Amazon founder Jeff Bezos surpassed Musk in the ranking of the richest people in the world. Bezos's fortune on February 17, 2021 was $ 191 billion, and Musk, who dropped to second place, was $ 190 billion. Musk is currently ranked third behind Amazon CEO Jeff Bezos and French luxury goods tycoon Bernard Arnault.
According to a White House newsletter, the Biden administration's $ 1.2 trillion infrastructure plan includes spending $ 15 billion to build a national network of 500,000 EV charging stations and electrify school and transit buses in the United States.