After a surge in Tesla shares raised his net worth to a whopping $184.5 billion, Elon Musk is on track to become the richest person in the world.
On Wednesday afternoon, just two days after finishing the first trading session of the year with a rise of 3.4 percent, the car marker’s stock price soared 4.9 percent.
According to Bloomberg’s Billionaires Index, the increase means Musk now trailing Amazon CEO Jeff Bezos by just $3 billion in net worth. Since 2017, Bezos has kept the title of richest individual in the world, and is reportedly worth $187billion.
It comes after Musk overtook Bill Gates in November as the second-richest individual, a big leap for the 35th-ranked entrepreneur who began in 2020.
Despite the global crisis brought on by the coronavirus pandemic, Musk has continued to boost his fortune by more than $146 billion in the last 12 months.
Throughout 2020, Tesla posted a string of profitable quarters and entered the S&P 500, positioning the company as one of the most valuable companies in the world.
Musk tweeted he was ‘proud of the Tesla team for achieving this major milestone.’
Tesla Inc. announced better-than-expected deliveries of vehicles for 2020 on Saturday, led by a steady growth in the acceptance of electric vehicles, but narrowly missed its optimistic full-year target during a crushing year for the global car industry.
‘At the start of Tesla, I thought we had (optimistically) a 10% chance of surviving at all,’ he said.
According to Refinitiv numbers, the company supplied 499,550 vehicles during 2020, above Wall Street projections of 481,261 vehicles – still 450 units short of CEO Elon Musk’s half a million vehicles target.
Congratulations from fans and bullish investors flooded in on Twitter, thanking the electric car company for its impressive year, which has defied broader cycles in the car sector of slumping revenues, quarterly setbacks and delays in the global supply chain.