Forbes: Elon Musk's Net Worth Nears $100 Billion

Silicon Valley entrepreneur Elon Musk's net worth approached $ 100 billion to $ 98.8 billion on Friday with electric car manufacturer Tesla's shares increasing in value more than five times this year, according to Forbes' Real-Time Billionaires List.

A big portion of his fortune comes from the 21% stake in Tesla. Tesla shares, which went public at $17 per share in 2010, rose 3.5% in morning trade to a record high of $ 2,318.49.

Tesla became the world's most valuable car maker by market value on July 1 when it overtook Toyota Motor Corporation.

[caption id="attachment_145985" align="aligncenter" width="800"] SpaceX  rocket launch[/caption]

Alongside Tesla, Musk heads the rocket company SpaceX and Neuralink, a startup that is developing high-bandwidth machines to connect the human brain to computers.

Musk is part of an Elite group of only four others with a twelve-digit net worth, however, is only half the net worth of the world's richest man and Amazon's CEO Jeff Bezos.

Musk, who co-founded PayPal, now leads some of the most innovative enterprises in the world.

He also set up The Boring Company to create affordable tunnels down busy city streets for an all-electric public transportation system to avoid bad traffic jams in cities.

[caption id="attachment_145982" align="aligncenter" width="2048"] The Boring Company Tunnel[/caption]

"Elon Musk is working to revolutionize transportation both on Earth, through electric car maker Tesla - and in space, via rocket producer SpaceX," Forbes wrote.