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Last Updated : 2024-04-25 22:12:00
Tesla Inc, chief and billionaire entrepreneur Elon Musk surpassed Amazon.com Inc’s top boss Jeff Bezos to become the world’s richest man, Bloomberg News reported today.
Including Thursday's gains in Tesla shares, Musk, 49, had a net worth of more than $188.5 billion, $1.5 billion more than Bezos, the report said.
Musk’s personal wealth has been boosted by last year’s more than eight-fold surge in the shares of Tesla, which became the world’s most valuable carmaker.
He has a 20% stake in the carmaker and about $42 billion of unrealized paper gains on vested stock options, according to the Bloomberg report.
Tesla shares were up as much as 7.4% on Thursday at a record high of $811.61.
The Forbes Billionaires List, however, said Musk still trails Amazon's Bezos by US $7.8 billion.
Forbes has a more conservative estimate based on the Tesla stake that he has pledged as a collateral for personal loans. To take that into account, it applies a 25% discount to his shareholding, according to its report in November.
Musk, who co-founded and sold Internet payments company PayPal Holdings Inc, now leads some of the most futuristic companies in the world.
Besides Tesla, he heads rocket company SpaceX and Neuralink, a startup that is developing ultra-high bandwidth brain-machine interfaces to connect the human brain to computers.
He set up the Boring Company to make affordable tunnels below busy city streets for an all-electric public transportation system to avoid the nasty traffic jams in U.S. cities.
Sugathadasa Rajapakse Friday, 15 January 2021 11:50 AM
Sir David Barclay Billionaire owner of Daily Telegraph passed away on Wednesday the 13th January. But he went without even a Dollar with him, and only took the merits or demerits he accrued in his life of 86 years. So it is with this Billionaire, Elon Musk, as he too will not take with him his Billions but only the merits and demerits. No amount money will enable him to develop skill or Kusala but only with right mindfulness and right concentration.
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