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        <title><![CDATA[Elon Musk keeps climbing list of world’s wealthiest people]]></title>
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        <lastBuildDate>Mon, 20 Jul 2020 20:51:58 +0000</lastBuildDate>
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            <media:title type="html">Elon Musk keeps climbing list of world’s wealthiest people</media:title>
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        <content:encoded><![CDATA[<p>That&#8217;s some pay raise.</p><p>Tesla CEO Elon Musk added a whopping $5 billion <strong>to his net worth</strong> on Monday thanks to Tesla&#8217;s never-ending stock rally, allowing him to finish the day as the fifth-richest person in the world with a net worth of $74.2 billion.</p><p>Musk, who as recently as a few weeks ago was No. 20 on the global rankings, according to Forbes, is now behind only Facebook CEO Mark Zuckerberg, Microsoft&#8217;s Bill Gates, luxury goods titan Bernard Arnault and Amazon chief Jeff Bezos.</p><p>Shares of Tesla spiked 9.5 percent ahead of the electric automaker&#8217;s <strong>upcoming earnings report</strong>, finishing the day at an all-time high of $1,643. If it posts a profit that meets generally accepted accounting principles, it will have four consecutive profitable quarters under its belt — a key metric for being added to the popular S&amp;P 500 stock index.</p><p>The rally saw Tesla&#8217;s market cap finish the day at 305.6 billion — almost $100 billion ahead of Toyota, the world&#8217;s second-largest automaker by market cap.</p><p>Tesla will report its quarterly earnings early Wednesday evening.</p><p>Don&#8217;t look for the outspoken billionaire to claim the title of world&#8217;s richest man any time soon, however. His $5 billion net worth spike on Monday pales in comparison to the $12.9 added by Bezos, who has a fortune of $188.9 billion.</p>]]></content:encoded>
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