Friday, 08 January 2021 05:02

Elon Musk surges past Jeff Bezos as world’s richest man

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Elon Musk, the world’s celebrated entrepreneur behind Tesla Inc. and SpaceX, is now the world’s richest man.

A 4.8% surge in the electric carmaker’s share price at today’s trading session boosted Elon Musk’s wealth valuation past Jeff Bezos, the founder of Amazon on the Bloomberg Billionaires Index, a ranking of the world’s 500 wealthiest people.

What this means: The tech entrepreneur just became the richest person on planet earth with a net valuation of more than $185 billion.

  • Elon Musk’s wealth gain in 2020 marks the fastest surge to the top of the rich list in modern history— and marks a dramatic turn around from a business riddled with debt less than two years ago as Tesla’s rapidly burnt cash to stay in operation.
  • Stock experts anticipate A Democratic-controlled U.S Senate is bullish for Tesla, on the bias that there would be more pro-renewable investments at least for the next few years.