Musk to Dethrone Bezos As World's Richest Man

Published January 7th, 2021 - 09:30 GMT
Musk to Dethrone Bezos As World's Richest Man
Musk tweeted he was 'proud of the Tesla team for achieving this major milestone.' (Twitter)

Elon Musk is on track to become the richest person in the world after a surge in Tesla shares increased his net worth to a whopping $184.5billion.  

The car marker's stock price jumped 4.9 per cent on Wednesday afternoon, just two days after finishing the first trading session of the year with a gain of 3.4 per cent.

The boost means Musk now trails Amazon CEO Jeff Bezos by just $3billion in terms of net worth, according to Bloomberg's Billionaires Index.  

Bezos has held the title of world's wealthiest person since 2017, and is currently worth $187billion. 

It comes after Musk overtook Bill Gates as the second-richest person in November, a significant jump for the entrepreneur who started off 2020 ranked 35. 

Musk managed to increase his wealth by more than $146billion in the last 12 months, despite the economic downturn brought by the coronavirus pandemic.  

Tesla reported a series of profitable quarters throughout 2020 and joined the S&P 500, establishing the company as one of the world's most valuable businesses.   

On Saturday, Tesla Inc. reported better-than-expected 2020 vehicle deliveries, driven by a steady rise in electric vehicle adoption, but narrowly missed its ambitious full-year goal during a punishing year for the global auto industry.

The company delivered 499,550 vehicles during 2020, above Wall Street estimates of 481,261 vehicles, according to Refinitiv data - but 450 units shy of CEO Elon Musk's target of half a million vehicles.

Musk tweeted he was 'proud of the Tesla team for achieving this major milestone.'

'At the start of Tesla, I thought we had (optimistically) a 10% chance of surviving at all,' he said.


© Associated Newspapers Ltd.

You may also like