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        <title><![CDATA[Elon Musk worth more than $100B as Tesla’s stock keeps surging]]></title>
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            <media:title type="html">Elon Musk worth more than $100B as Tesla’s stock keeps surging</media:title>
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        <content:encoded><![CDATA[<p>Make room, Jeff, Bill and Mark: the 12-digit club has a new member.</p><p>Elon Musk&#8217;s fortune crossed the $100 billion mark on Friday as Tesla&#8217;s shares continued a dizzying rally that has seen the company&#8217;s market cap more than quadruple this year.</p><p>The South Africa-born chief executive has now followed Amazon&#8217;s Jeff Bezos, Microsoft founder Bill Gates and Facebook CEO Mark Zuckerberg to become the fourth person who is currently worth more than $100 billion.</p><p>Tesla shares, which first went public a decade ago at $17 a pop, rose as much as 3.5 percent Friday morning to a record high of $2,318.49.</p><p>Musk is now worth $104.7 billion, according to the Bloomberg Billionaires Index, and is hot on the heels of fellow centabillionaire Zuckerberg and his $110.8 billion fortune.</p><p>Musk earlier this month&nbsp; <strong>became the fourth-richest man on earth</strong> after a surge in his electric automaker&#8217;s shares helped him leapfrog French luxury titan Bernard Arnault, who was previously a member of the $100 billion club but now sits at $86.2 billion, according to Bloomberg.</p><p>Musk has added added more than $75 billion to his fortune since the beginning of the year as <strong>Tesla shares have soared</strong> amid rising production and demand for its electric cars.</p><p>Tesla <strong>became the world’s most valuable carmaker</strong> by market capitalization when it overtook former front runner Toyota on July 1. The company now accounts for more than 40 percent of the total market cap of a group of 12 of the world’s largest automakers.</p><p>Shares of Tesla were flat in Friday afternoon trading, at $2,238.15.</p>]]></content:encoded>
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