The net worth of South African-born entrepreneur, Elon Musk has topped US$100-billion, as recorded in the Forbes real-time billionaires list.
A high percentage of his wealth comes from the 21% stake in Tesla, according to Forbes. Tesla shares, which went public at $17 apiece in 2010, rose as much as 3.5% in morning trade to a record high of $2 318.49.
The company became the world’s most valued car maker through market capitalisation on 1 July when it overtook front runner Toyota and has over the last 10 years made many of its retail investors millionaires.
Musk is now a member of an elite club consisting of just four others with twelve-digit net worth. His $100-billion (or R1.66-trillion), however, is just about half the net worth of the world’s richest man and Amazon.com CEO Jeff Bezos, according to Forbes.
Musk co-founded and sold Internet payments company PayPal. He now leads some of the most futuristic companies in the world.