Tesla CEO, Elon Musk overtakes Jeff Bezos to become the richest person in the world

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Elon Musk is now the richest person in the world, thanks to a surge in his electric car company’s share price

With a net worth of $190 billion as of Thursday January 7, the Tesla CEO has pushed Jeff Bezos to a second position. Bezos had been on the top spot since 2017. He is currently worth about $184 billion.

“How strange. Well, back to work …” Musk tweeted

 

The 49-year-old South Africa-born billionaire has witnessed a tremendous increase in the share price of his electric car company, TESLA, the past 12 months

TESLA hit a market value of $737.6bn (£516bn) for the first time on Wednesday. The share price hit a record $810 per share.

TESLA company was selected two months ago to join the S&P 500 – a membership only available to US companies with at least $8.2billion market capitalization. To join the S&P 500, a company must also be liquid and at least half of its shares must be available to the public, and the company must report four straight quarters of profit.

 

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Musk overtook Bill Gates in November to become the second-richest person in the world. With just a net worth of about $7.2 billion early last year, Elon Musk gained more wealth over the past 12 months than Bill Gates’ entire net worth of $132 billion.

 

Elon Musk saw his personal wealth rose to more than $150 billion late 2020, in large part because he has more ownership interest in Tesla stock, about 20 percent of the company.

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