Elon Musk Is Now the Richest Man In the World, Dethroning Amazon’s Jeff Bezos

Tesla CEO Elon Musk is now officially the richest man in the world, as his fortune rose to surpass Amazon’s Jeff Bezos by $1.5 billion on Thursday. Musk’s electric vehicle maker Tesla TSLA is up another 8.2% from +7.8% as of 11:30 A.M. EST(Eastern Standard Time) on Friday, which has raised Musk’s net worth by $12.5 billion to $189.7 billion. That’s what makes him the richest person on the planet as per Forbes’ estimates.

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Tesla’s market capitalization, which can be used to measure the company’s stock price multiplied by its number of shares, has been on a tear since early last year, from roughly $80 billion in January 2020 to just over $760 billion today. Meanwhile, Musk’s personal fortune, which is tied to Tesla’s stock price, has appreciated by more than $150 billion last year. But despite an earlier Bloomberg report this week claiming that Musk became the richest person in the world on Wednesday, Forbes’s calculations have been very careful, as it released a statement saying that the Tesla boss did not officially occupy the number one spot until Friday morning. Musk has become nearly $5 billion ahead of former world number one Jeff Bezos, whose fortune amounts to a net worth of $185 billion as of 11:30 A.M. EST (Eastern Standard Time) Wednesday.

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This new valuation has been touted as being more than eight times the combined values ​​of the traditional “Big Three” US automakers, Ford, GM, and Fiat Chrysler. Musk has been consistent and on a steady rise through the ranks of the world’s richest, as he initially surpassed Facebook FB CEO Mark Zuckerberg (now worth $96.9 billion) to become the world’s fourth-richest person in early November. Then he was also able to surpass Microsoft MSFT co-founder Bill Gates (worth $122 billion today) for third place. After just a month, Musk surpassed French luxury mogul Bernard Arnault (currently worth $154.8 billion) to become the second richest person in the world.

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