Tesla CEO Elon Musk on Thursday overtook Amazon.com founder Jeffrey Bezos as the world’s richest person. According to the Bloomberg Billionaires Index, Tesla stock price rises on paper exceeded the value of his assets by $ 188 billion.
Tesla shares rose more than 7% Thursday, helping to push Musk’s net above $ 1.5 billion, according to Bloomberg, citing data tracked by its wealth index. Shares of the electric-carmaker have enjoyed a resounding run in the past year, up nearly $ 92% from a year ago to more than $ 811 in Thursday trading.
Responding to Twitter, an account reported that he was now the richest person in the world, Musk replied, “How strange.” He later said, “Okay, back to work…”
Tesla’s stock was added to the S&P 500 last month. The company is valued at $ 768 billion more than Ford, GM, Volkswagen and Toyota combined.
Musk rises to the top of the rich list as the nation’s billionaires have seen their fortunes of more than $ 1 trillion during the epidemic, thanks to strong stock market share from investors’ expectations for an economic recovery in 2021. Companies such as Amazon have seen an increase in sales and profits as consumers shifted their spending patterns and changed their behavior to accommodate Coronavirus epidemic.
To be sure, the change in rankings might not reflect the variable nature of high-profile stocks like Amazon and Tesla. And Bezos would probably be the richest person in the world without him Divorce in 2019, Which gave his former wife McKenzie Scott a 25% stake in Amazon.
Scott, meanwhile, is the 23rd richest person in the world, with a net worth of over $ 56 billion, according to the Bloomberg Billionaires Index. Last month, Scott said he donated More than $ 4.2 billion His fortune for charity, including anti-hunger groups and educational institutions.
Amazon’s stock has not declined. Since last January, its shares have gained more than 66%.