Elon Musk Overtakes Jeff Bezos As The World’s Richest Person

Elon Musk is a business magnate, industrial designer and engineer (image via KEVORK DJANSEZIAN/GETTY IMAGES)

Elon Musk briefly overtook Jeff Bezos as the world’s wealthiest person for the first time on Thursday, based on calculations using the Bloomberg Billionaires Index.

Tesla shares shot up as much as 5% on Thursday, boosting the net worth of its CEO to north of $184 billion. However, Amazon’s shares eventually climbed as much as 2%, lifting Bezos’ fortune even higher.

The Bloomberg Billionaires Index listed Bezos and Musk’s fortunes as $181 billion and $184 billion respectively as of Wednesday’s close. The rankings are set to be updated after trading ends for the day.

Musk’s wealth on paper reflects his roughly 20% stake in Tesla and 48% stake in SpaceX, as well as 57 million vested Tesla stock options, Bloomberg says. Bezos’ net worth largely derives from his 11% stake in Amazon.

The Tesla CEO’s fortune has ballooned by more than $150 billion in the past year, Bloomberg said, after the electric-vehicle company’s stock price rocketed up 740% in 2020.

Musk and Bezos have left other billionaires in their rearview mirrors. The world’s third-richest person, Bill Gates, was worth $132 billion as of Wednesday’s close.

See Also: The Top 5 Companies That Elon Musk Owns

source: business insider

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