Musk overtakes Bezos to become world's richest personEuropost
Robust market performance of the stocks of electric car maker Tesla paved the way for its chief and billionaire Elon Musk to surpass e-commerce Amazon.com chief and main shareholder Jeff Bezos to become the world’s richest man, Reuters reported. After this weeks stocks gains in Tesla, Musk had a net worth of more than $188,5bn, which tops by $1,5 billion Bezos.
2020 was extremely good for Musk’s personal wealth driven by Tesla’s eight-fold surge on the stock market. In the beginning of 2021 Tesla became the world’s most valuable carmaker. Musk controls a 20% stake in Tesla which is valued at some $42 billion. Still some calculations by Forbes leave Musk trailing by $7,8bn to Bezos as estimated by market capitalization.
Forbes has a more conservative estimate based on the Tesla stake that he has pledged as a collateral for personal loans. To take that into account, it applies a 25% discount to his shareholding, according to its report in November. Musk, who co-founded and sold Internet payments company PayPal Holdings Inc, now leads some of the most futuristic companies in the world.
Besides Tesla, he heads rocket company SpaceX and Neuralink, a startup that is developing ultra-high bandwidth brain-machine interfaces to connect the human brain to computers. He set up the Boring Company to make affordable tunnels below busy city streets for an all-electric public transportation system to avoid the nasty traffic jams in US cities.