Elon Musk now officially the richest person in the world


Elon Musk now officially the richest person in the world
Elon Musk, founder of SpaceX and chief executive officer of Tesla Inc., arrives at the Axel Springer Award ceremony in Berlin, Germany, on Tuesday, Dec. 1, 2020. Tesla Inc.??will be added to the S&P 500 Index in one shot on Dec. 21, a move that will ripple through the entire market as money managers adjust their portfolios to make room for shares of the $538 billion company. Photographer: Liesa Johannssen-Koppitz/Bloomberg via Getty Images Elon Musk is now richer than Amazon boss Jeff Bezos (Picture: Getty Images)

Elon Musk has just become the richest person in the world, with a net worth of more than $185billion (£136billion).

The Tesla and SpaceX boss shot past Amazon CEO Jeff Bezos on the world ’s rich list after shares in his companies rose.

In the past year South African born Musk ’s wealth has risen by $160billion (£118billion) as demand for Tesla ’s electric cars has soared.

Bezos had been the richest person on the planet since 2017 and is currently worth around $184billion (£136billion).

Just 18 months ago Tesla ’s value suffered heavy losses following legal and regulatory concerns and worries over Musk ’s leadership.

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In August 2018 the CEO famously tweeted that he had ‘funding secured ’ to make Tesla private at ‘$420 a share ’, heralding a year of litigation, government inquiries, layoffs and operational problems.

SpaceX owner and Tesla CEO Elon Musk (R) gestures as he arrives on the red carpet for the Axel Springer Awards ceremony, in Berlin, on December 1, 2020. (Photo by Britta Pedersen / POOL / AFP) (Photo by BRITTA PEDERSEN/POOL/AFP via Getty Images) Musk is also the entrepreneur behind aerospace manufacturer SpaceX (Picture: AFP/Getty Images)

But Tesla ’s share price has increased more than nine-fold over the past year, making a substantial comeback, while Amazon ’s have remained more steady.

At the start of 2020 Musk was worth around $27billion (£20billion) and was only just in the top 50 richest people.

Musk surpassed Warren Buffett in July, becoming the seventh richest person in the world, and then shot past Bill Gates to become the second.

He has gained more wealth over the past year than the Microsoft boss ’s entire $132billion net worth, CNBC reports.