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Elon Musk leaves behind Amazon’s Bezos to become world’s richest person

8 January 2021 03:08 pm - 5     - {{hitsCtrl.values.hits}}


Tesla Inc chief and billionaire entrepreneur Elon Musk surpassed Inc's top boss Jeff Bezos to become the world's richest man, Bloomberg News reported on Thursday.

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 $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. (Reuters)

  Comments - 5

  • Saras Friday, 08 January 2021 04:06 PM

    Can anyone find out who is the world's poorest man in the world.

    Mohamed Ali Friday, 08 January 2021 04:51 PM

    Poorest man competition is too high.

    Ahmed Friday, 08 January 2021 07:49 PM

    He should be living somewhere Sri Lanka

    Kasun Friday, 08 January 2021 08:06 PM

    Yes there is someone who holds the record for the person who is the poorest - Jerome Kerviel. He is the person with the most amount of debt owing over 6.3bn USD.

    Ammagei Puthek Friday, 08 January 2021 09:29 PM

    According to personal asset disclosure, the poorest are Sri Lankan politicians! They take on the job to become the rags to riches idols of the world.

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