Elon Musk is worth more than MTN, Vodacom, Checkers, and Absa — put together

According to the Bloomberg Billionaires Index, Elon Musk’s wealth jumped to $288.6 billion (R4.242 trillion) on Monday.

The $36.2 billion (R532 billion) gain followed a surge in Tesla’s stock price after Hertz Global Holdings ordered 100,000 cars.

Musk is increasingly pulling away from his fellow mega-billionaires when it comes to the size of his fortune.

Amazon.com’s Jeff Bezos ranks second with $193 billion, according to the Bloomberg Billionaires Index.

Tesla shares have climbed in recent weeks even before the Hertz deal. The auto maker’s stock price is up more 40% this year, almost double the gain of the S&P 500 Index.

A surge in Tesla stock isn’t the only source of wealth gains for Musk. The seventh tranche of Musk’s massive 2018 stock option package vested in the third quarter, adding about $8 billion to his net worth.

Elon Musk’s soaring net worth now makes him more valuable than Exxon Mobil, one of the world’s largest publicly traded international oil and gas companies.

To put South African born Musk’s wealth in context, it is interesting to look at how it compares to the value of South Africa’s largest companies.

Naspers is South Africa’s largest company with a market cap of R1.14 trillion. Amplats is the second largest, with a market cap of R430 billion.

Other top companies include Firstrand (R325 billion), MTN (R255 billion), Vodacom (R251 billion), Standard Bank (R226 billion), Capitec (R199 billion).

The table below shows the value (market cap) of most of South Africa’s top companies.

To put Musk’s wealth in perspective, he can buy all these companies and still have money left over.

Company Market Cap (R billion)
Naspers R1,140 billion
Amplats R431 billion
Firstrand R325 billion
MTN R255 billion
Vodacom R251 billion
Standard Bank R226 billion
Capitec R199 billion
Sasol R166 billion
Sanlam R139 billion
Absa R121 billion
Aspen R115 billion
Shoprite R109 billion
Discovery R92 billion
Nedbank R89 billion
Pepkor R86 billion
Old Mutual R73 billion
Remgro R70 billion
Clicks R68 billion
Bidvest R65 billion
Woolies R58 billion
Total company value R4.078 trillion
Elon Musk’s wealth R4.240 trillion

Elon Musk’s wealth versus South African company market caps

Reporting with Bloomberg.

Now read: Elon Musk’s personal fortune jumps by R419 billion in one day

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Elon Musk is worth more than MTN, Vodacom, Checkers, and Absa — put together