Elon Musk surpasses Jeff Bezos and becomes the richest man in the world

Source: HW Upgrade added 08th Jan 2021

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Elon Musk overtook Jeff Bezos, becoming the richest person in the world. His fortune grew by over 150 billions of dollars in one year, thanks to the stock boom Tesla.

by Manolo De Agostini published , at 20: 11 in the web channel

Tesla and SpaceX boss, Elon Musk, has become the richest in the world, surpassing Amazon CEO Jeff Bezos thanks to the strong growth of the Tesla share price in the last year (from just over to over 800 dollars!). South African billionaire boasts a fortune of around 1 88 billions of dollars according to Bloomberg’s estimates, little more than colleague Bezos (187 billions), at the top since October 2017. It’s a two-person fight, between figures who are rumored not to love each other too much, and not just because of the rivalry between SpaceX and Blue Origin.

A ballet of positions in the future, depending on the share performance, cannot be ruled out, but l Elon Musk’s run in 2020 was impressive due to the fact that it holds a full-bodied Tesla share package, approximately 150% of the company. Last year the automaker produced and delivered 500 thousand cars, in particular Model 3 and Model Y, a result definitely encouraging. The market has awarded the stock and its valuation is now 8 times higher than the combined values ​​of the US “big three” : GM, Ford and Fiat Chrysler. And he doesn’t seem to want to stop.

Like most billionaires, Musk also saw his overall wealth grow during the COVID pandemic – 19. In 2019, during a court hearing, Musk pleaded short of money. This is due to the fact that the entrepreneur systematically reinvests the proceeds of the shares in his companies – in 2018, for example, pumped about 100 millions in The Boring Company. Musk has always used his personal finances to finance new businesses: Tesla and SpaceX owe their birth to what the entrepreneur collected with Zip2 and PayPal. On Twitter Musk commented on the news with “how strange” and an ironic “well, I’m back to work”.