The man behind Tesla and SpaceX, Elon Musk, enjoys a strong fan following for his innovative ideas and outspoken personality, something that is mostly evident on Twitter. And now, the entrepreneur is on a journey to win more fans as he is currently working to become the richest man in the world.
Musk, who currently ranks second on the Bloomberg Billionaires Index, a list of the 500 richest people in the world, is now worth a staggering $ 181 billion. Interestingly, it is interesting to note that this is only $ 3 billion less than the valuation of Amazon founder Jeff Bezos, who is the current leader of the Bloomberg Billionaires index with a net worth of $ 184 billion.
If Musk really manages to overtake Bezos, he would become the first person in over three years to dislodge the founder of Amazon. from his perch as Bezos has remained at the top of the list since October 2017. While this might be bad news for Bezos, it would also represent a notable turnaround for Elon Musk who has had an amazing 2020 and a good start to 2021. This Because it ended last year, Musk’s net worth grew by over $ 150 billion, possibly one of the fastest examples of wealth creation in history.
The secret behind Elon Musk’s growing wealth
The main reason behind Elon Musk’s staggering wealth growth is the rise in Tesla shares which recently rose 2.8% to boost Musk a short distance from Bezos’ net worth. As previously mentioned, this surge was one of many Tesla has seen this year, boosting Musk’s overall net worth over the past 12 months by more than $ 150 billion.
Tesla is truly turning into a cash cow for Musk he has earned from the electric car manufacturer has grown immensely. Musk currently holds 20% stake in Tesla and beyond that he also owns approximately $ 40 billion in unrealized paper earnings on acquired stock options.
However, Musk’s ongoing journey to become the richest man in the world would not have been possible without Bezos himself losing much of his wealth. Due to the nature of his business, the Amazon founder has lost a lot of stock value over the past year, which also contributed to Musk’s closure on Bezos.
It is also prudent to note that while Musk appears to soon become the richest person in the world, his wealth, like that of Bezos, is parked in stocks, which we know are very volatile. Furthermore, this is wealth that is not easily transferable in real money as Musk risks devaluing the company’s stock and, by extension, its wealth if he attempts to sell a portion of his proprietary shares on the market.
Elon Musk’s valuation is now just $ 3 billion from the current richest man on the planet, Jeff Bezos.
- Elon Musk is on course to become the richest man on the planet.
- Elon Musk is currently valued at over $ 181 billion.
- The richest man right now is Jeff Bezos.