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Elon Musk beats Jeff Bezos to become world’s richest person

Friday, 8 January 2021

After several months, Elon Musk of Tesla has finally become the richest man on the planet, displacing Amazon Boss Jeff Bezos.

What made that possible was a 4.8% share price increase of Tesla Inc on Thursday, January 7, which secured Elon’s first place among the world’s 500 richest people, Bloomberg reports.

As of 10:15 am, the co-owner of the electronic car company was worth $188.5 billion (N71,856,200,000,000.02) as he made a gain of $1.5 billion (N571,800,000,000) over the Amazon chief.

Recall that the businessman was projected to soon become the richest person in the world as he trailed Bezos after his net worth soared to $184.5billion (N70,331,400,000,000.01).

It was gathered that Tesla’s stock price jumped 4.9% on Wednesday, January 6, making it possible for Musk to trail Bezos by $3 billion (N1,143,600,000).

It should be noted that Bezos has held the position since October 2017. The new richest man is also his strong competitor in the private space business. Over several months, Musk has had his net worth grow by $150 billion.

One of the things that also contributed to that was how Tesla stock price rose by 743% in 2020, a year that marked a streak of continuous profit for him.

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via: Information Nigeria

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