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Elon Musk Overtakes Jeff Bezos, Becomes World’s Richest Man

Elon Musk and Jeff Bazos

South African raised entrepreneur, Elon Musk, has taken over the title of the world’s richest man from Amazon boss Jeff Bezos, Boomerang reports.

With a 6% rise in Tesla (TSLA) shares on Thursday, the value of its CEO’s stock holdings and options by $10 billion was lifted making his net worth to be about $191 billion.

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This is a more modest rise of less than 2% lifted Bezos’ Amazon (AMZN) shares by about $3 billion, putting his net worth at $187 billion.

The Forbes real-time tracker still has Musk and Bezos $18 billion apart as of the close of trading Wednesday, after Bezos lost $4.3 billion in the value of his Amazon (AMZN) stock. Although the broader market was up sharply Wednesday, Big Tech stocks, including Amazon, fell on concerns that Democratic control of the Senate could mean greater scrutiny and regulation on the industry.

Another gain in Tesla (TSLA) shares Wednesday lifted Musk’s net worth by $4.1 billion to $165.4 billion, according to Forbes’ calculations. But Forbes does not appear to be giving Musk credit for the value of options he received in 2020 to buy an additional 33.6 million shares of Tesla.

Elon is a business magnate, an industrial designer and an engineer. He is the founder, CEO, CTO and chief designer of SpaceX; early investor,[b] CEO and product architect of Tesla, Inc.

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Joshua Oyenigbehin is an introvert who is passionate about Storytelling, writing, and teaching. He sees his imagination as an unsearchable world, more magical than a fairyland. He has written a novel and working on another

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