Tesla CEO Musk named the world’s richest man: surpassing Amazon CEO Bezos

According to CNBC reports, Tesla CEO Elon Musk’s personal net worth rose to US$185 billion, surpassing Amazon CEO Bezos to become the world’s richest man.

The rise in Tesla’s share price on Thursday pushed Musk to the front of Jeff Bezos, who has been the world’s richest man since 2017 and is currently worth about $184 billion. Musk’s wealth surge in the past year marked his fastest rise to the top of the rich list in history. It also marked a dramatic change in the financial situation of this famous entrepreneur. Just 18 months ago, The entrepreneur also made headlines because of Tesla’s rapid cash burn and his personal leverage on Tesla stock.

Musk is worth about 27 billion U.S. dollars at the beginning of 2020, barely making it among the 50 richest people.

Tesla’s stock price is like riding on a rocket, which has increased by more than 9 times in the past year, and his generous compensation package has increased his net worth by more than 150 billion US dollars.

At the same time, Amazon’s stock price is still relatively sluggish due to the possibility of increased supervision in Washington.

Elon Musk overtook Buffett in July to become the seventh richest person. In November, Musk surpassed Bill Gates to become the second richest man. Musk’s wealth in the past 12 months exceeds Bill Gates’ entire net worth of $132 billion.

Naijatechnews learned that Tesla’s stock price recently traded at approximately $790, which rose more than 4% in Thursday’s trading. The company’s market value has grown to $737.6 billion.

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