Elon Musk Passes Jeff Bezos to Become Richest Person in the World

Thanks to Tesla's surging stock, Elon Musk overtook Jeff Bezos to become the richest person in the world with a net worth of about $190 billion.

January 7, 2021

elon richest man — Image via Getty/ODD ANDERSEN
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Elon Musk surpassed Jeff Bezos as the wealthiest person in the world for the first time on Thursday.

“How strange,” Musk tweeted about the news. “Well, back to work.”

Per CNN, a 5% rise in Tesla shares early Thursday increased Musk's net worth by approximately $9.3 billion, bringing his total to about $190 billion. Bezos' net worth currently sits at $187 billion.

The calculations are made based on the Bloomberg Billionaires Index, which listed Musk and Bezos’ worth at $181 billion and $184 billion, respectively, as of Wednesday. When the rankings are refreshed when trading closes Thursday, Bloomberg confirms that Musk will be in the top spot.

According to CNBC News, Musk’s skyrocketing wealth in 2020 made him the fastest person in history to reach the top of the world’s richest people list. He began last year with a $27 billion net worth and barely cracked the top 50 wealthiest people.

However, Tesla’s surging share price—which ballooned by 740 percent last year—and his pay package have added over $150 billion to his fortune. His wealth is also indicative of his 20 percent stake in Tesla, 48 percent stake in SpaceX, and 57 million vested Tesla stock options. Bezos’ net worth reflects his 11 percent stake in Amazon. He's been the world's richest person since 2017, beating Bill Gates for the ranking.

Gates is now the third richest person with a $132 billion net worth as of Wednesday.