by vs as much as vs up to

[Majid72]

Hi there.

Every year the stock exchange increases the number of shareholders
1-by 2- as much as 3- up to 1.5 million.

Are the above three options correct? if so, do they covey the same idea?

Thanks a million.

[Gray]

I am adding some examples to complete the sentences:

1)
Every year the stock exchange increases the number of shareholders by 1.5 million.

--absolutely correct

2)
Every year the stock exchange increases the number of shareholders as much as they lose.

For example, if they lose 1000 shareholders, they increase it by 1000.

--depends on the context (natives, please see the usage of 'as much as')

3)
Every year the stock exchange increases the number of shareholders up to 1.5 million.

May be, they have an upper limit of 1.5 million on increase.

Native review required :)
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First lesson - English, not english. I, not i. ~A student of English