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Elon Musk surpasses Jeff Bezos to become world's richest person
Last updated on Jan 07, 2021, 10:20 pm
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Tesla Inc. and SpaceX CEO Elon Musk has surpassed Amazon boss Jeff Bezos to become the world's richest person, Bloomberg reported on Thursday.
Reportedly, a 4.8% rally in Tesla's share price boosted Musk's fortune past Bezos's on the Bloomberg's Billionaires Index, a ranking of the world's 500 wealthiest people.
Musk is a rival to Bezos—the owner of Blue Origin LLC—in the private space race.
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Details
Musk's net worth stands at $188.5 billion
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At 8:45 pm in New Delhi, Musk's net worth stood at $188.5 billion, $1.5 billion more than Bezos.
Notably, Musk had only just surpassed Microsoft's Bill Gates—formerly the world's richest person—in November last year to become the second-richest person in the world.
Reacting to the news, Musk said in a tweet, "How strange." In another tweet, he wrote, "Well, back to work..."
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Twitter Post
You can view the tweet here
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How strange
— Elon Musk (@elonmusk) January 7, 2021 -
Growth
Over past year, Musk's wealth has surged $150 billion
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Over the past year, the billionaire entrepreneur's net worth has grown by more than $150 billion in what is possibly the fastest accumulations of wealth in the world's history.
Tesla's share price has surged 743% last year due to consistent profits, inclusion in the S&P 500 Index, and enthusiasm from Wall Street and retail investors alike, Bloomberg reported.
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Related news
China's bottled water king also climbs billionaires ranking
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The Bloomberg Billionaires Index has been upended by extraordinary rallies.
China's Zhong Shanshan has now surpassed Warren Buffett to become the world's sixth-richest person after shares of his bottled-water company surged.
Last week, Zhong had replaced Reliance Industries chairperson Mukesh Ambani to become Asia's richest person.
The world's 500 richest added a record $1.8 trillion to their combined wealth last year.