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Home Wealth & Lifestyle Billionaire Watch

Battle of Titans: Elon Musk, Jeff Bezos share world’s richest title

Olumide Adesina by Olumide Adesina
March 2, 2021
in Billionaire Watch, Spotlight
Jeff

BEVERLY HILLS, CA - FEBRUARY 26: SpaceX CEO Elon Musk attends the 2017 Vanity Fair Oscar Party hosted by Graydon Carter at Wallis Annenberg Center for the Performing Arts on February 26, 2017 in Beverly Hills, California. (Photo by Pascal Le Segretain/Getty Images) BEVERLY HILLS, CA - MARCH 04: Amazon CEO Jeff Bezos attends the 2018 Vanity Fair Oscar Party hosted by Radhika Jones at Wallis Annenberg Center for the Performing Arts on March 4, 2018 in Beverly Hills, California. (Photo by John Shearer/Getty Images)

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The battle for the worlds richest has suddenly become so intense that both Elon Musk and Jeff Bezos both share the world’s richest man title on the account they both have a net worth of $184 billion.

 

Bezos, the man behind the world’s most valuable retail company, Amazon, has steadily been seeing his wealth valuation appreciate amid high market volatility currently prevailing at global financial markets.

The 49-year-old self-made billionaire, Elon Musk is sharing, the world’s richest when recent data revealed Tesla recorded impressive gains of about $9.75 at the end of Monday’s trading session.

Investors are currently increasing their buying pressure on Tesla as they weigh reports that the electric vehicle industry is expected to grow into a $5 trillion market over the next decade, thereby giving the world’s most valuable car company room for more upside.

READ: China’s richest man worth $94.1 billion earned a fortune from selling bottled water

It’s important to note that both mega billionaires have in recent times focused their considerable brainpower on space technology as Bezos recently accelerated his space-travel efforts through his firm popularly known as Blue Origin.

Recent reports suggest SpaceX founded by Musk raised another $850 million this month from a group of leading institutional investors led by Sequoia Capital.

Such investment now puts SpaceX’s valuation at $74 billion, a 60% jump from August, and helped boost Musk’s net worth by about $11 billion, according to the index.

Bezos who is now the Chairman of the $1.58 trillion valued company, Amazon has about $9.63 billion cash in the bank.

READ: Apple’s market value cross $ 2 trillion

The online retail giant returns have under his tenure as the chief executive officer of the e-commerce giant actually ranked second among all S&P stocks since the IPO in May 1997.

The 57-year-old billionaire is the founder of Amazon, the world’s biggest online retailer company on earth. The American-based company sells books, household goods, and other retail products through its flagship platform.

His company also controls the Whole Foods grocery chain and offers video streaming services and remains the biggest cloud computing provider worldwide.

READ: Billionaires worth over $100 billion made $270 billion in 2020

That being said, both Elon Musk and Jeff Bezos’s wealth valuation would currently buy 107 million troy ounces of gold or 2.91 billion barrels of crude oil.

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Tags: Elon MuskJeff BezosSpaceXTesla

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