Elon Musk is now the richest person in the world, passing Jeff Bezos

by 24USATVJan. 7, 2021, 5:20 p.m. 26
-

Elon Musk, CEO of Tesla, stands on the construction site of the Tesla Gigafactory in Grünheide near Berlin, September 3, 2020.

Elon Musk just became the richest person in the world, with a net worth of more than $185 billion.

Thursday's increase in Tesla's share price pushed Musk past Jeff Bezos, who had been the richest person since 2017 and is currently worth about $184 billion. Musk's wealth surge over the past year marks the fastest rise to the top of the rich list in history — and marks a dramatic financial turnaround for the famed entrepreneur who just 18 months ago was in the headlines for Tesla's rapid cash burn and his personal leverage against Tesla's stock.

Musk started 2020 worth about $27 billion, and was barely in the top 50 richest people.

Tesla's rocketing share price — which has increased more than nine-fold over the past year — along with his generous pay package have added more than $150 billion to his net worth.

Meanwhile, Amazon's share price has remained more subdued due to the potential for increased regulation from Washington.

Elon Musk passed Warren Buffett in July to become the seventh richest person. In November, Musk raced past Bill Gates to become the second richest person. Musk has gained more wealth over the past 12 months than Bill Gates' entire net worth of $132 billion.

Tesla's shares were recently trading at about $790, up more than 4% in trading Thursday. The company's market value has grown to $737.6 billion.

-

Related Articles

HOT TRENDS

Kevin Durant questionable to play Friday vs. Cavaliers

by 24USATVJan. 23, 2021, 5 a.m.2
HOT TRENDS

Kristin Cavallari & Jay Cutler Post the Same Photo Together

by 24USATVJan. 23, 2021, 5 a.m.2
HOT TRENDS

Microsoft (MSFT) Raises Price of Xbox Live Gold Subscription

by 24USATVJan. 23, 2021, 4 a.m.2
HOT TRENDS

Antonio Brown will not play on Sunday

by 24USATVJan. 23, 2021, 4 a.m.2
HOT TRENDS

McGregor’s Legal Troubles Hang Over U.F.C. and His Career

by 24USATVJan. 23, 2021, 2 a.m.2
HOT TRENDS

Bucs will be fine without Antonio Brown

by 24USATVJan. 23, 2021, 2 a.m.2
HOT TRENDS

Steelers TE McDonald retires after 8-year career

by 24USATVJan. 23, 2021, 1 a.m.2
HOT TRENDS

WandaVision Recap: Come On, Get Happy

by 24USATVJan. 23, 2021, midnight2