Elon Musk, CEO of Tesla, surpassed Amazon.com founder Jeffrey Bezos as the richest person in the world on Thursday. A surge in the price of Tesla stock increased the value of its fortune on paper to over $ 188 billion, according to the Bloomberg Billionaires Index.
Tesla shares rose more than 7% on Thursday, according to Bloomberg, and helped grow Musk’s net worth to $ 1.5 billion above Bezos’ net worth, according to Bloomberg. The electric car maker’s shares have seen a spectacular run over the past year, rising nearly 800% from around $ 92 a year ago to over $ 811 in trading on Thursday.
When Musk replied to an account on Twitter that indicated that he is now the richest person in the world, he replied, “How strange.” He later added, “Well, back to work …”
Tesla’s stock was added to the S&P 500 last month. The company’s $ 768 billion worth is greater than Ford, GM, Volkswagen and Toyota combined.
Musk’s rise to the top of the rich list is because the country’s billionaires made more than $ 1 trillion in fortunes during the pandemic, in part due to a strong stock market that was bumped by expectations Investors Are Driven For Economic Recovery In 2021 Amazon saw sales and profits spike as consumers changed their spending patterns and behaved to adapt to that.
That said, given the variability in high-profile stocks like Amazon and Tesla, the ranking shift might not last. And Bezos would probably remain the richest person in the world without him, who gave about 25% of her shares in Amazon to his ex-wife MacKenzie Scott.
Scott is the 23rd richest person in the world with a net worth of more than $ 56 billion, according to the Bloomberg Billionaires Index. Last month Scott said she made a donationof their assets to charities such as anti-hunger groups and educational institutions.
Amazon’s stock wasn’t looser either. Since last January, its shares are up more than 66%.