Possibly the most famous entrepreneur in the world, Elon Musk, has now become the richest in the world. Musk has now overtaken Amazon’s CEO, Jeff Bezos, with a total net worth of $188 billion and rising to become the wealthiest person in the world, according to the Bloomberg Billionaire Index valuation—a ranking of the top 500 richest individuals in the world
Surprisingly, this is the first time Bezos has been ousted from his spot at the top of this list since October 2017. At present, he sits second, with a net worth of $187 billion. In the past six months, the founder of Amazon has seen his assets fluctuate a bit due to tough business conditions. It is also very important to move Musk to the top of the list as it follows closely on the heels of him passing Bill Gates in November to become the world’s second-richest person. While much of the globe had a terrible2020, Musk personally saw his value grow to more than $150 billion in 2020.
Musk, who is the founder of several revolutionary firms, such as Tesla and SpaceX, responded to the Bloomberg Billionaire Index very unusually. Reacting to the tagged tweet from the “Tesla Owners of Silicon Valley” account with the text, “@elonmusk is now the richest person in the world at $190 billion” he simply replied, “How Strange” But he didn’t stop there, as he said that in another Tweet, “Well, back to work.”
How Elon Musk became the world’s wealthiest individual
The biggest factor behind the pretty staggering wealth growth of Elon Musk is the surge in Tesla’s shares, which recently rallied 4.8 percent to increase Musk’s value above that of the net worth of Bezos Bezos. As described above, this boom was one of the many that Tesla saw this year, raising Musk’s total net worth by over $150 billion over the past 12 months.
Tesla is turning into a cash cow for Musk, who has benefited tremendously from the growth of the electric car producer. Tesla is turning into a cash cow for Musk, who has benefited tremendously from the growth of electric car production. Musk has a 20% stake in Tesla and also retains about $40 billion in unrealized paper gains on exercised stock options.