Elon Musk, who surpassed Bill Gates in November last year, has more reasons to be happy as he is now on top of the list of the richest persons in the world. The billionaire entrepreneur pipped Amazon Inc. founder Jeff Bezos on the back of a strong 4.8% rally in the stock market. The net worth of Elon Musk rose to $195 billion after the impressive performance of his company’s shares in the market. As per the Bloomberg’s Billionaire Index, Musk is currently worth $10 billion more than the Amazon Inc. founder.
The year 2020 saw the shares of Tesla soar extraordinarily. In one of the fastest growth of wealth in history, Musk’s net worth increased by a mammoth $150 billion. Consistent good returns combined with a bullish approach among investors meant the shares of Tesla grew by 743% previous year.
The share value of his electric car company is miles higher than any other automobile companies even though the units produces by Tesla is really small when compared to giants like General Motors or Ford Motors.
An increase of 31% was seen in the combined net worth of the world’s 500 wealthiest individuals in the year 2020.
Last week, Warren Buffett slipped off from his 6th position by Zhong Shanshan of China as the shares of his bottled-water company skyrocketed.
Top 10 Wealthiest Individual (Net worth as on Jan 08, 2021 – Bloomberg Billionaires Index)
|Rank||Name||Total Net Worth (as on Jan 08, 2021)|
|1||Elon R Musk||$195B|