Bulletin
Investor Alert

The Margin Archives | Email alerts

Jan. 9, 2021, 10:15 a.m. EST

Here’s what Elon Musk has to say about becoming the richest person in the world

Rise in Tesla shares early Thursday pushed Musk’s fortune past Amazon founder Jeff Bezos

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Tesla Inc. (TSLA)
  • X
    Amazon.com Inc. (AMZN)

or Cancel Already have a watchlist? Log In

By Nicole Lyn Pesce


Getty Images
Tesla CEO Elon Musk passed Amazon’s Jeff Bezos to become the richest man in the world on Thursday.

Happy New Year, Elon Musk.

The Tesla /zigman2/quotes/203558040/composite TSLA -6.42%  and SpaceX founder passed Amazon’s /zigman2/quotes/210331248/composite AMZN -1.38%  Jeff Bezos on the Bloomberg Billionaires Index to become the richest person in the world on Thursday morning, Bloomberg reported , as a 4.8% rise in Telsa shares pushed Musk’s fortune to $188.5 billion at 10:15 a.m. Eastern, which was $1.5 billion more than Bezos’s $187 billion.

How did Musk, 49, respond to the news that he passed one of his top rivals and became the wealthiest in the world?

“How strange,” he tweeted. “Well, back to work…”

Indeed, the outspoken entrepreneur has been on quite a ride over the past year as his net worth has skyrocketed by more than $150 billion in what might be the fastest rise in wealth creation in history.

A year ago, Musk was worth about $27 billion, and barely cracked Bloomberg’s list of the 50 richest people. But Tesla saw its shares spike more than 700% last year, and the company joined the S&P 500 in December following five quarters of positive earnings.

While the pandemic took millions of livelihoods and tens of thousands of lives across the globe last year, many of the world’s wealthiest people managed to get richer. The 500 richest people in the world added a record $1.8 trillion to their combined net worth last year. And the Americans for Tax Fairness and the Institute for Policy Studies reported that the 651 U.S. billionaires saw their collective wealth grow by more than $1 trillion over nine months.

Read: Here’s the case for Elon Musk, Warren Buffett and the rest of America’s billionaires sending $3,000 stimulus checks to everybody

Bloomberg notes that Bezos, who had been the world’s richest person since 2017, would still hold a sizable lead over Musk if it weren’t for his divorce from MacKenzie Scott in 2019, which gave his ex-wife 25% of his Amazon stake. What’s more, Bezos also donated Amazon shares worth about $680 million in November.

/zigman2/quotes/203558040/composite
US : U.S.: Nasdaq
$ 1,014.97
-69.63 -6.42%
Volume: 30.77M
Dec. 3, 2021 4:00p
P/E Ratio
328.64
Dividend Yield
N/A
Market Cap
$1089.23 billion
Rev. per Employee
$445,694
loading...
/zigman2/quotes/210331248/composite
US : U.S.: Nasdaq
$ 3,389.79
-47.57 -1.38%
Volume: 4.04M
Dec. 3, 2021 4:00p
P/E Ratio
66.28
Dividend Yield
N/A
Market Cap
$1743.25 billion
Rev. per Employee
$297,430
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.