NEW YORK: Elon Musk, CEO of Tesla, becomes the richest person in the world. His current net worth is more than $185 billion.
Musk, 49, co-founded and sold Internet payments company PayPal Holdings Inc.
The reports say Thursday’s increase in Tesla’s share price made Musk the richest person on the planet. Records show Jeff Bezos was the richest person before Musk. Bezos was leading the list since 2017.
Musk’s wealth surge over the past year marks the fastest rise to the top of the rich list in history.
The reports say Musk started 2020 worth about $27 billion. A 7.9% jolt to his company’s share price made Musk the fastest person for personal wealth creation in history. The jump in Tesla’s stock price further inflates a valuation light-years apart from other automakers on numerous metrics.
Musk has gained more wealth over the past 12 months than Bill Gates’ entire net worth of $132 billion.
After the news on Thursday, Musk tweeted “How strange, Well, back to work.”
According to the records, Musk donated shares worth about $680 million in November.