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Wed. 3 Nov 2021, 8:15am ETBenzinga
In: News, Movers & Shakers, Management, Success Stories, General

The personal wealth of Elon Musk continues to soar at a record pace with shares of Tesla (NASDAQ:TSLA) trading higher year-to-date. As Musk soars past the rest of the top 10 on the Bloomberg Billionaires Index, he’s also passing the valuation of several Tesla competitors.

What Happened: With Tesla having a valuation of $1.19 trillion, Musk has seen his personal wealth hit $335 billion.

Musk has added $165 billion to his personal wealth in 2021, according to Bloomberg, thanks to the rising value of Tesla and a $100-billion valuation given to his space company SpaceX earlier this year.

In late 2020, it was revealed that the valuation of Tesla had passed the value of many of the leading automakers combined. The news highlighted the trending shift to electric vehicles and the rising valuation of electric vehicle companies while the valuations of traditional automakers decline. 

As Musk’s wealth rises, he is now worth more than several automotive companies combined.

Related Link: 5 Things You Might Not Know About Elon Musk 

Musk Worth More Than Several Tesla Competitors: Musk is worth $335 billion as of Nov. 1 according to Bloomberg.

With this sizable wealth, Musk is well ahead of Jeff Bezos. The founder of Amazon.com Inc (NASDAQ:AMZN) ranks second with a wealth of $193 billion. Musk could buy every MLB, NBA, NFL and NHL hockey team and still have money left over.

The Tesla CEO is also now worth more than Ford Motor Company (NYSE:F), General Motors Company (NYSE:GM), Stellantis NV (NYSE:STLA), Honda Motor Co (NYSE:HMC) and Bayerische Motoren Werke AG (OTC:BMWYY) combined.

The market caps are $71 billion, $80 billion, $64 billion, $53 billion and $66 billion, respectively, for a total of $334 billion, just under Musk’s total of $335 billion.

Musk being worth more than Ford, General Motors and Steallantis, which owns Chrysler, is significant, as they are Detroit's "Big Three" in the automotive industry and for years led the way before foreign car companies and electric vehicles started taking away market share.

TSLA Price Action: Shares were down 3.03% at $1,172 at the close Tuesday.

Ford headquarters in Dearborn, Michigan. Photo by Dave Parker via Wikimedia.