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Elon Musk Now World’s Richest Man

Elon Musk is now world’s richest man as he overtakes Amazon’s founder and CEO Jeff Bezos.

Elon Musk

Bloomberg reports that a 6% rise in Tesla (TSLA) shares on Thursday increased the value of Musk’s stock holdings and options by $10 billion, taking his net worth to about $191 billion. A more modest rise of less than 2% lifted Bezos’ Amazon (AMZN) shares by about $3 billion, putting his net worth at $187 billion.

Bloomberg’s real-time billionaire tracker places Bezos at about $3 billion ahead of Musk. But the tracker doesn’t update until the end of the trading day. Bloomberg posted an article confirming Musk’s title. Bill Gates is now a distant third at $132 billion, according to Bloomberg.

More so, Musk is the primary shareholder and CEO of SpaceX, though SpaceX is privately held, so its value does not fluctuate as much as the value of Tesla.

Meanwhile, Bezos’ stake in Amazon shares increased by $75 billion in 2020, to $173.3 billion, given the huge increase in sales driven by the Covid-19 pandemic.

But that was nothing compared to Musk’s holdings in Tesla. The 170 million shares of Tesla he already owns increased in value by $106 billion during 2020, as shares shot up 743% during the course of the year.

However, Bloomberg’s report shows that one-time world’s richest man, Bill Gates is now in third place at $132 billion.