[ad_1]
Tesla Inc (NASDAQ: TSLA) CEO Elon Musk has added more than $ 111 billion to his fortune so far this year, becoming the second richest person in the world, but wealth acquired by others in the electric vehicles was much larger.
What happened: Musk is worth $ 139 billion, having added 403% in wealth this year, according to the Bloomberg Billionaires Index – but many of his Chinese peers have surpassed him in terms of enrichment.
The wealth of William Li, founder of Nio Inc (NYSE: NIO), has seen the fastest growth among the richest 500 people in the world. Li grew 1159% richer, adding $ 6.82 billion to its coffers, which totaled $ 7.41 billion, according to Bloomberg.
Xpeng Inc (NYSE: XPEV) President He Xiaopeng has enriched 643% this year, his net worth reaching $ 9.8 billion.
Li Auto Inc (NASDAQ: LI) CEO Li Xiang, worth $ 6 billion, saw his wealth increase by 616%, while Wang Chuan-Fu, chairman of WORLD Co Ltd (OTC: BYDDF) gained 236% and is worth $ 14.1 billion.
Why is this important: Shares of Nio are up 1,093.53% year-to-date, while those of Tesla are up 580%.
Musk’s Chinese rivals aren’t surprised by Tesla’s plans to launch a low-cost electric vehicle and have compared the automaker to Apple Inc (NASDAQ: AAPL) in its early days, suggesting that the company headed by Musk will lead to the growth of the overall market.
Price action: Tesla stock closed nearly 2.7% lower at $ 568.82 on Wednesday and gained 2.48% to $ 582.93.
Related links:
Will Tesla or Nio Stock increase further by 2025?
Click here to check out Benzinga’s EV hub for the latest news on electric vehicles.
Photo by Haddad Media on Flickr
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[ad_2]
Source link