Tesla CEO Elon Musk on Thursday surpassed Amazon.com founder Jeffrey Bezos as the richest person in the world. A jump in the price of Tesla shares raised the value of its wealth on paper to more than $ 188 billion, according to the Bloomberg Billionaires Index.
Shares of Tesla rose more than 7 percent on Thursday, helping raise Musk’s net worth to $ 1.5 billion above Bezos’ fortune, according to Bloomberg, citing data tracked by its wealth index . The shares of the electric car maker have enjoyed a spectacular run over the past year, rising nearly 800%, from about $ 92 a year ago to more than $ 811 in Thursday’s trading.
Responding on Twitter to an account noting that he was now the richest person in the world, Musk replied, “How strange.” He later added: “Well, get back to work …”
Tesla shares were added to the S&P 500 last month. The company’s $ 768 billion value is higher than that of Ford, GM, Volkswagen and Toyota combined.
Musk’s rise to the top of the rich list comes when the country’s billionaires have seen their fortunes rise by more than $ 1 trillion during the pandemic, thanks in part to a strong stock market driven by investor expectations. for an economic recovery in 2021. Companies like Amazon have seen sales and profits increase as consumers changed their spending patterns and changed their behaviors to suit the Coronavirus pandemic.
Of course, the change in rating may not last given the variable nature of high-profile stocks like Amazon and Tesla. And it is likely that Bezos will continue to be the richest person in the world without his divorce in 2019, which gave his ex-wife MacKenzie Scott about 25% of his stakes in Amazon.
Meanwhile, Scott is the 23rd richest person in the world, with a net worth of more than $ 56 billion, according to the Bloomberg Billionaires Index. Last month, Scott said he gave more than $ 4.2 billion of their fortune for charities, including anti-hunger groups and educational institutions.
Amazon’s shares have not been weak either. Since last January, its shares have gained more than 66%.