Tesla and SpaceX CEO Elon Musk's fortune grew by $9.9 billion over the past week, Forbes has reported.
Musk ranks third on the Forbes list with a net work estimated at $165.9 billion. The entrepreneur is ahead of Amazon CEO Jeff Bezos ($196.2 billion) and Bernard Arnault ($193.3 billion), head of LVMH (Louis Vuitton Moët Hennessy).
Tesla shares have experienced a 7.8% increase over the last week.
According to Forbes, Musk made nearly $10 billion in one week thanks to a White House deal with a bipartisan group of senators to invest in infrastructure.
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The national infrastructure restoration plan is designed for eight years: authorities will allocate $1.2 trillion to it. The project must also mitigate the environmental impact of transportation use. The US plans to build a national network of 500,000 electric vehicle (EV) charging stations along highways in rural and disadvantaged areas. The US also intends to create the first Infrastructure Financing Authority of its kind to raise funds for clean transportation and clean energy.
It is still unknown whether the bill will receive enough support from senators to become law. However, shares of Tesla and other start-up electric vehicle companies such as Fisker and Lordstown Motors have rallied driven by the news.