Hail Elon Musk! Tesla Founder Beats Jeff Bezos To Become World’s Richest Person

Hail Elon Musk! Tesla Founder Beats Jeff Bezos To Become World’s Richest Person

The charts have rolled as the records have broken. Jeff Bezos is not the wealthiest person anymore. According to the Bloomberg Billionaires Index, on Thursday the magnate of multiple businesses, Elon Musk outdid the CEO of Amazon to become the richest person in the world.

The Competition Is Neck To Neck

Jeff Bezos has stood as the world’s richest person since October 2017. The net worth of the CEO of the e-commerce behemoth Amazon is worth $187 billion currently. With a brief edge of one million dollars, Elon musk took over the position as his net worth increased to $188 billion on Thursday.

Upon hearing the news, the charismatic business tycoon reacted via Twitter in his own unique way,

Fastest Bout Of Wealth Creation In History 

Though Elon Musk has been a billionaire for a long time he was way off the list in 2020  as he started the last year with $27 billion. It was during a pandemic when his wealth quintupled, increasing his net worth by more than $150 billion. The majority credit goes to the exponential growth of Tesla. Where the rest of the world was struggling to even persist, the stocks of Tesla grew by a whooping 700% in 2020 making it the world’s most valuable automaker that ever existed. According to reports, this is the “fastest bout of wealth creation” in history. 

About Elon Musk

The South African born American entrepreneur Elon Musk has founded not one but multiple startups.  His first famous milestone was Paypal, a money transferring application that was bought by eBay in 2002 for $1.5 billion. In the same year, he also founded Space exploration Technologies, SpaceX, to make space travel more affordable. He believes that interplanetary habitation is essential for the persistence of human existence and has undertaken the mission of colonizing mars ever since.

His curiosity kept pushing him to come up with newer ventures. His will to explore the possibility of electric vehicles made him found Tesla in 2004. He has also shown interest in Hyperloop technology, the fastest alternative for the current transportation system.

He is one of the most outspoken influential entrepreneurs whose work is creating a future that is beyond the imagination of the world. According to Bloomberg, Musk’s wealth comes from his 20% stake in Tesla and a 48% stake in SpaceX along with 57 million exercisable shares of Tesla since he takes a nearly negligible salary from his companies.

Musk and Bezos are the only living centi billionaires on the list, leaving all their competitors way behind. With a worth of $132 billion, Bill Gates stands at the third position as the world’s richest person.

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