By Nathan Weiss
Source: Getty Images
On January 7th, Elon Musk officially passed Jeff Bezos as the holder of the title richest man in the world. While 2020 has been a terrible year for many, Tesla’s share price has continued to increase at an extraordinarily fast rate, ascending Musk to his new title. With Jeff Bezos, founder and CEO of Amazon, put into second place behind him, it’s time to delve into detail of how Musk established this great feat.
Elon Musk is known for his famously hard work ethic, with him averaging around 40 hours a week while being no stranger to excruciating long work weeks. With that said, it’s clear as day that his grind was not for nothing. Of Elon’s many large projects, his private rocket company, SpaceX, has reached a net worth of a whopping 46 billion dollars, though this pales in comparison to Tesla. From the company’s net worth of 128 billion dollars in March to 774 billion dollars today,
Tesla’s stock has increased drastically over the course of the COVID-19 pandemic, leaving none other than Musk himself to reap the great rewards of his labor. As he was worth 25 billion dollars in March, his net worth has skyrocketed to 185 billion dollars, an increase so large that it put him over Bezos as the richest man in the world. Although Amazon’s growing importance in the world has kept Bezos at the top of the world’s richest people for years, Tesla’s drastic increase in value has led its CEO to take this position from Bezos.
With Tesla’s sales continuing to raise the company’s worth, the question we should ask ourselves is if Musk will be able to keep this position, or if another rising billionaire will take his place instead.
