Elon Musk Beats Jeff Bezos To Be The World's Richest Person

Tesla has had the best year ever, at least on the stock market, and its continued rise has made its CEO Elon Musk the richest man on the planet, the position Jeff Bezos used to hold.

As stated in Bloomberg’s Billionaires Index, Musk’s worth is now approximately $188 billion.

However, Elon Musk doesn’t seem to be too thrilled at the news. On Thursday, he tweeted it was strange and then said “back to work.”

The fact that Musk is now the wealthiest man has concluded the years-long rivalry between the two tech tycoons. Jeff Bezos has his own space company called Blue Origin – his answer to Musk’s SpaceX. They fought about the hallowed NASA land with Musk emerged as the winner.

In November, Elon Musk passed Microsoft’s Bill Gates to become the world’s second-richest man on Earth. The force that drives this change is Tesla as Musk pulled the automobile company out of its darkest time and ramped up sales. Musk owns lots of Tesla’s stock – around 20%, so it comes as no surprise that his worth skyrockets.

After Musk signed a 10-year compensation package with Tesla two years ago, his stock stash has grown significantly. Earlier this year, Musk received his first tranche which is worth $800 million.

Unlike many other peers in the billionaire club, Elon Musk said in court last year that he was financially illiquid and cash poor. In 2019, he sold the majority of his physical possessions.

Musk has been in the habit of investing his own wealth in his companies, like when he founded SpaceX and Tesla from what he earned with PayPal and Zip2. In 2018, he took loans against his stock and plow $100 million back to the Boring Company.

Elon Musk is now the world’s richest man according to Forbes and Bloomberg’s standards, but there are many other household names who are rich in the ways harder to calculate, like Mohammed bin Salman and Vladimir Putin as they also have access to the wealth of the nations they are ruling.

>>> AI Will Overtake Humans And Turn Us Into House Pets In The Next 5 Years, Elon Musk Said