Elon Musk becomes world’s richest person surpassing Jeff Bezos
First Published: 8th January, 2021 14:42 IST
Tesla CEO Elon Musk on Thursday (January 7) became the richest person in the world, surpassing Amazon CEO Jeff Bezos, who had held the title since 2017. The net worth
Tesla CEO Elon Musk on Thursday (January 7) became the richest person in the world, surpassing Amazon CEO Jeff Bezos, who had held the title since 2017.
The net worth of Musk is more than USD 185 billion, up from USD 27 billion in early 2020, according to a report by CNBC.
January 7’s increase in Tesla’s share price pushed Musk past Jeff Bezos, whose current net worth is about USD 184 billion.
Musk’s wealth surge over the past year marks the fastest rise to the top of the rich list in history, CNBC reported. 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. 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.
Musk started 2020 with his worth about USD 27 billion and was barely in the top 50 richest people.
Tesla’s shares were recently trading at about USD 790, up more than 4 percent in trading on Thursday. The company’s market value has grown to USD 737.6 billion.
Tesla’s rocketing share price which has increased more than nine-fold over the past year along with his generous pay package has added more than USD 150 billion to his net worth.
Tesla delivered 499,550 vehicles in 2020, slightly missing its most recent guidance of 5,00,000 vehicles. The company achieved the feat despite closing its new factory in China as well as its vehicle plant in Fremont, California for several weeks as the new coronavirus spread.
Musk also tweeted. “So proud of the Tesla team for achieving this major milestone! At the start of Tesla, I thought we had (optimistically) a 10% chance of surviving at all”.
Elon Musk has proclaimed that he wants to increase Tesla`s vehicle sales volume from about 5,00,000 in 2020 to 20 million annually over the next decade. Late last month, he had told Tesla employees in an email to `go all out` in order to achieve the 5 lakh vehicle delivery goal.
Meanwhile, Amazon’s share price has remained more subdued due to the potential for increased regulation from Washington.
COMMENTS
TOPMOST STORY NOW
Live “Fakr hai uski shahdat par, it is my strength”: Brave pony handler’s grieving father remembers son
24th April 2025
Live ‘Aminul Islam’s Remarks Are His Own, Not Party’s’: AIUDF Chief Badruddin Ajmal Reaffirms ‘Party Stands With Govt of India’
24th April 2025
Live Assam: Dhing AIUDF MLA Aminul Islam arrested for controversial statement on Pahalgam terror attack
24th April 2025
Live ‘Have Trust Issues with the Govt’: CTAN and NNQF on Regularisation of 147 Posts
24th April 2025
WE RECOMMEND
PM Modi’s Youngest Fans? Here’s What JD Vance’s Kids Ewan And Vivek Said After Meeting PM Modi
JD Vance's Kids: Vance described PM Modi as a “special person”, recounting their first meeting during the AI Action Summit in February.
22nd April 2025
What was Pope Francis’s last message to the world?
Pope Francis’ last message was a heartfelt plea to end global conflict and restore dignity through peace.
22nd April 2025
India declares 3-day State Mourning on passing away of Pope Francis
The mourning will be observed across the country on April 22 and 23, and again on the day of the Pope's funeral.
22nd April 2025
Harvard University sues Trump administration over threats to freeze funding
This development comes after the Trump administration demanded access to all university reports on antisemitism and anti-Muslim bias on campus generated since October 2023
22nd April 2025
Pope Francis Dies at 88 in Vatican
His entire life was dedicated to the service of the Lord and of his Church, Farrell said in the announcement.
21st April 2025