Elon Musk Topped Jeff Bezos To Become The Richest Man In The World

On Thursday, Tesla Inc boss and billionaire entrepreneur Elon Musk topped the boss of Amazon.com Inc, Jeff Bezos, to become the richest man in the world, Bloomberg News announced.

According to Bloomberg’s Billionaires Index, Musk was trailing Amazon CEO Jeff Bezos by just $3 billion in net worth in an early hour of Wednesday.

Since 2017, Bezos has kept the title of the richest individual in the world and is reportedly worth $187billion.

Musk, 49, had a net worth of more than $189.5 billion, $ 1.6 billion more than Bezos, after Thursday’s gains in Tesla stock, the study said. Around (bloom.bg/3nnOz3U)

The personal fortune of Musk was strengthened by last year’s more than eight-fold rise in Tesla’s shares, which became the most profitable carmaker in the world.

According to the Bloomberg report, he has a 20 percent interest in the carmaker and nearly $42 billion in unrealized paper profits on exercised stock options.

At a record high of $811.61, Tesla shares were up as much as 7.4 percent on Thursday.

Nevertheless, the Forbes Billionaires List said Musk also trails Amazon’s Bezos by $7.8 billion. (bit.ly/2Xh90VF) (bit.ly)

Based on the Tesla stake, Forbes has a more optimistic estimation that he has pledged as collateral for personal loans.

To take that into account, according to its November report, a 25 percent discount applies to its shareholding.

Musk, who co-founded and sold PayPal Holdings Inc, an Online payment firm, now runs some of the world’s most futuristic enterprises with a large percent of his company’s ad innovations still in the process of development.

Besides Tesla, he leads the rocket company SpaceX and Neuralink, a startup that builds brain-machine interfaces of ultra-high bandwidth to connect the human brain to computers.

To stop the nasty traffic congestion in U.S. cities, he set up the Boring Company to make inexpensive tunnels beneath crowded city streets for an all-electric public transit system.

It is clear that Musk will not exit the first place in the next 10 to 20 years, especially when most of his discoveries and company have been completed.

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