Elon Musk overtook Bezos to become the richest man in the world

Elon Musk overtook Bezos to become the richest man in the world

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.