Elon Musk is now the richest man on earth after he surpassed Amazon’s Jeff Bezos
Musk’s topped the list after his Telsa Inc.’s share price in 2021 surged.
The Tesla CEO is now worth $194.8 billion and is $9.5 billion richer than Bezos, the founder of Amazon.com Inc. who ranked second in Bloomberg’s Billionaire’s Index, a ranking of the world’s 500 wealthiest people.
The South-African born engineer amassed $165 billion to his wealth over the past year in what is probably the fastest growth of personal wealth in history.
Musk’s company, Tesla, saw its share price surge 743% in 2020 on account of consistent profits, inclusion in the S&P 500 Index and glee from Wall Street and investors.
According to Bloomberg, Tesla shares gained over 23,900% since the 2010 initial public offering.
The perch that Musk now occupies has only seen a handful of other people in recent history.