Tesla CEO Elon Musk on Thursday surpassed Amazon.com founder Jeffrey Bezos as the richest person in the world. An increase in Tesla’s share price raised the value of its paper assets to more than $ 188 billion, according to the Bloomberg Billionaires Index.
Tesla shares rose more than 7 percent on Thursday, helping increase Musk’s net worth to $ 1.5 billion over Bezos’ wealth, according to Bloomberg, citing data tracked by its wealth index. The shares of the electric car manufacturer have enjoyed a spectacular evolution in the last year, increasing by almost 800% from about $ 92 ago to over $ 811 in trading on Thursday.
Responding on Twitter to an account that pointed out that he is now the richest person in the world, Musk replied: “How strange.” He later added: “Well, back to work …”
Tesla stock was added to the S&P 500 last month. The company’s value of $ 768 billion is higher than that of Ford, GM, Volkswagen and Toyota combined.
Musk’s rise to the top of the rich list comes as the nation’s billionaires saw their fortunes rise by more than $ 1 trillion during the pandemic, due in part to a strong stock market fueled by investors’ expectations for an economic recovery in 2021. Companies as Amazon saw sales and profits grow, as consumers changed their spending patterns and changed their behaviors to adapt to coronavirus pandemic.
Certainly, the change in ranking may not take long, given the variable nature of high-profile stocks such as Amazon and Tesla. And Bezos would probably remain the richest person in the world without him divorce in 2019, who offered his ex-wife MacKenzie Scott about 25% of their stakes in Amazon.
Scott, meanwhile, is the 23rd richest person in the world, with a net worth of more than $ 56 billion, according to the Bloomberg Billionaires Index. Last month, Scott said he donated over $ 4.2 billion from her fortune to charities, including anti-hunger groups and educational institutions.
Amazon’s stock wasn’t weaker either. Since January last year, its shares have gained over 66%.