The Chief Executive of Tesla overtakes Jeff Bezos to become richest man in the world.
Elon Musk, chief executive of Tesla, overtook Amazon boss Jeff Bezos to become the world’s wealthiest person, according to US media on Thursday.
Musk is a major shareholder of the electric car company and has benefited from Tesla’s surging share price over the last year. CNBC estimated Musk’s wealth at $185 billion.
Tesla CEO Elon Musk saw his net worth grew to over $185 billion as of Thursday, surpassing Amazon founder Jeff Bezos as the world’s richest man.
Ellon Musk was barely in the top 50 richest people in the world at the start of 2020 with his net worth being valued at $27 billion. This quickly changed as Tesla went public and the value of the company skyrocketed.
A 5% rise in Tesla (TSLA) shares early Thursday lifted the value of its CEO stock in options by about $9.3 billion, to about $190 billion. A more modest rise of less than 2% lifted Bezos’ Amazon (AMZN) shares by $2.7 billion, putting him at $187 billion.