Connect with us

Tech

Elon Musk Is Now The Richest Person On Earth

Published

on

Tesla and Space X CEO, tech enthusiast Elon Musk has emerged as the richest man on earth according to Bloomberg after investments in his shares increased following successes from his enterprise.

A 4.8% rally in the electric carmaker’s share price Thursday boosted Musk past Amazon.com Inc. founder Jeff Bezos on the Bloomberg Billionaires Index, a ranking of the world’s 500 wealthiest people.

ALSO READ  10 Disadvantages of Social Media to Teenagers

The South Africa-born engineer’s net worth was $188.5 billion at 10:15 a.m. in New York, $1.5 billion more than Bezos, who has held the top spot since October 2017. As chief executive officer of Space Exploration Technologies Corp., or SpaceX, Musk is also a rival to Bezos, owner of Blue Origin LLC, in the private space race.

ALSO READ  For Etisalat/9mobile Users This is How To Link Your NIN To Your Phone (Step By Step)

The milestone caps an extraordinary 12 months for Musk. Over the past year his net worth soared by more than $150 billion in possibly the fastest bout of wealth creation in history. Fueling his rise was an unprecedented rally in Tesla’s share price, which surged 743% last year on the back of consistent profits, inclusion in the S&P 500 Index and enthusiasm from Wall Street and retail investors alike.

ALSO READ  Will Clash of Clans Be Shutting Down/Closing in 2022?

Bezos would still hold a wide lead over Musk had it not been for his divorce, which saw him cede about a quarter of his Amazon stake to his ex-wife, MacKenzie Scott, and his philanthropy. He donated shares worth about $680 million in November.

Click to comment

Leave a Reply

Your email address will not be published.

Trending

Welcome to Factboyz where you get to see Biographies, Wikis and Net worths of Celebrities, Actresses, Actors, Comedians, Pastors, Politicians, Athletes, Models and many other categories. It contains Amazing and Informative information for Articles, and Facts on various numerous topics. Check out Factboyz.com and be enlightened on various topics. You can send us an email at [email protected]

Copyright © 2022 Factboyz. Abjay Inc.

error: Content is protected !!