According to Bloomberg, Elon Musk, the American entrepreneur and owner of Tesla and SpaceX, has overtaken Amazon founder Jeff Bezos to become the richest man in the world.
A 6 percent rise in Tesla stock early Thursday morning lifted the company’s equity and CEO’s value by $10 billion. This brought his own fortune to about $191 billion. Amazon’s more modest rise, less than 2 percent, lifted Bezos’ stock by about $3 billion, bringing his net worth to $187 billion. These changes made Musk the richest man on the planet.
According to Bloomberg, Bill Gates is now in third place with a fortune of $132 billion.
Tesla’s 170 million shares, which Musk owns, rose in value by $106 billion during 2020, a 743% increase. Tesla stock is off to a good start in 2021, rising more than $90, or 13%, since the beginning of this year.
Bezos isn’t the only one Musk has caught up with. ExxonMobil (XOM), the most expensive U.S. oil company, had a market value of just under $191 billion at noon Thursday. So Musk, who is a leading proponent of switching drivers around the world from gasoline and diesel to electric cars, is worth at least more than America’s largest oil company at this point.