Elon Musk, the world’s celebrated entrepreneur behind Tesla Inc. and SpaceX, is now the world’s richest man.
A 4.8% surge in the electric carmaker’s share price at today’s trading session boosted Elon Musk’s wealth valuation past Jeff Bezos, the founder of Amazon on the Bloomberg Billionaires Index, a ranking of the world’s 500 wealthiest people.
What this means: Elon Musk is worth $194.8 billion, or $9.5 billion more than Jeff Bezos, whose Blue Origin is a rival to Musk’s Space Exploration Technologies Ltd., or SpaceX, in the private space race.
- Elon Musk’s wealth gain in 202o marks the fastest surge to the top of the rich list in modern history— and marks a dramatic turn around from a business riddled with debt less than two years ago as Tesla’s rapidly burnt cash to stay in operation.
- Stock experts anticipate A Democratic-controlled U.S Senate is bullish for Tesla, on the bias that there would be more pro-renewable investments at least for the next few years.
- Tesla has gained more than 23,900% since its 2010 initial public offering, including a 5-for-1 stock split in 2020.