Elon Musk beats Jeff Bezos to become richest person on planet

Elon Musk beats Jeff Bezos to become richest person on planet

After several months, Elon Musk of Tesla has finally become the richest man on the planet, displaying Amazon Boss Jeff Bezos.

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What made that possible was a 4.8% share price increase of Tesla Inc on Thursday, December 17, which secured Elon’s first place among the world’s 500 richest people, Bloomberg reports.

As of 10:15 am, the co-owner of the electronic car company was worth $188.5 billion as he made a gain of $1.5 billion over the Amazon chief.

Elon Musk beats Jeff Bezos to become richest person on planet

Recall that the businessman was projected to soon become the richest person in the world as he trailed Jeff Bezos after his net worth soared to $184.5billion (N70,331,400,000,000.01).

It was gathered that Tesla's stock price jumped 4.9% on Wednesday, January 6, making it possible for Musk to trail Bezos by $3 billion (N1,143,600,000).

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It should be noted that Bezos has held the position since October 2017. The new richest man is also his strong competitor with his SpaceX in the private space business.

Over several months, Musk, like other billionaires who got stupendously richer during the pandemic, had his net worth grow by $150 billion.

One of the things that also contributed to that was how Tesla stock price rose by 743% in 2020, a year that marked a streak of continuous profit for him.

In similar news, Facebook founder's, Mark Zuckerberg, wealth passed a $100 billion (N37,900,000,000,000) mark for the first time on Thursday, August 6, 2020 after his company Facebook Inc hit a record profit after the release of Reels.

Zuckerberg joined the league of centibillionaires of Jeff Bezos and Bill Gates. It should be noted that his fortune largely comes from his 13% stake in Facebook.

This development adds to the fact that American tech titans have had their fortune take a huge surge this year as the coronavirus pandemic makes people conduct their activities online more than before.

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Source: Yen

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