While the broader market is finally taking on some water, the two stocks that have come to define the bubble euphoria gripping the market – AAPL and TSLA – continue storming higher. The move is perplexing virtually everyone – except those who are buying probably – because most somewhat serious analysts had expected investors to buy into the stock split frenzy but sell afterward. Instead, the pre-split buying has continued, resulting in such laughable titles from Bloomberg seeking to “goalseek” what is going on.
One person who is laughing (all the way to the bank) is Elon Musk, who thanks to the “bullish” stock split is now the third-richest person in the world.
According to the Bloomberg Billionaire Index, Musk surpassed Facebook’s humanoid co-founder Mark Zuckerberg as shares of Tesla continued their unrelenting rally after undergoing a forward stock split. As of 11:25 a.m., Musk was worth $111.3 billion compared with $110.5 billion for Zuckerberg. The table below shows the absolute net worth of the world’s top 10 billionaires as of Friday’s close. This morning, Musk’s net worth has already rocketed by another $7 billion, putting him in the 3rd spot.