Elon Musk Overtakes Jeff Bezos To Become Richest Man In The World

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The American Elon Musk, the boss of Tesla and Space X, officially became this Thursday, January 7, the richest man in the world, according to Bloomberg. He is now ahead of Amazon CEO Jeff Bezos.

Bloomberg announced this Thursday, January 7 that Elon Musk has become the richest man in the world at only 49 years old.

The founder of Tesla and Space X had a net worth of $188.5 billion as of 10:15 a.m. in New York City, according to the U.S. media outlet. That is $1.5 billion more than Jeff Bezos, the CEO of Amazon.

Elon Musk’s net worth soared by $150 billion in 2020

The 4.8% increase in Tesla’s share price on Thursday, January 7, allowed Elon Musk to become the richest man in the world, in the Bloomberg Billionaires Index, which lists the 500 most people. richest people in the world.

In the year 2020, Tesla’s stock soared 743% while Elon Musk’s net worth grew by more than $ 150 billion.

Elon Musk’s meteoric rise is linked to the soaring Tesla title on the stock market. The stock price has risen more than 500% since early 2020 and is now worth $ 495 billion on Wall Street. Elon Musk, who owns about 18% of the company, therefore made $ 100 billion over the same period.

Electric cars, the “future of the automobile”?

The Tesla Group has, moreover, become profitable by making money over five consecutive quarters. Stock market action was boosted by the election of Joe Biden, who promised to promote the development of electric vehicles in the United States.

Tesla’s entry into the prestigious S&P 500 index also played a role. This will allow the group’s activities to be systematically included in many financial products, which should give it even more scope. Tesla is generally benefiting from the enthusiasm of many investors for what they consider to be the future of the automobile.

Source: Naija News





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