Tesla Inc chief and billionaire entrepreneur Elon Musk surpassed Amazon.com Inc’s top boss Jeff Bezos to become the world’s richest man, Bloomberg News reported on Thursday.
Including Thursday’s gains in Tesla shares, Musk had a net worth of more than $188.5 billion, $1.5 billion more than Bezos, according to the report.
The 49-year-old South Africa-born engineer’s net worth was $188.5 billion at 10:15 am in New York, $1.5 billion more than Bezos, who has held the top spot since October 2017.
Check tweet here:
— Elon Musk (@elonmusk) January 7, 2021
According to a Bloomberg report, the milestone caps an extraordinary 12 months for Musk. Over the past year his net worth soared by more than $150 billion in possibly the fastest bout of wealth creation in history. Fueling his rise was an unprecedented rally in Tesla’s share price, which surged 743% last year on the back of consistent profits, inclusion in the S&P 500 Index and enthusiasm from Wall Street and retail investors alike.
Musk only just passed Bill Gates in November to become the second-richest person in the world.