Jeff Bezos Is No More The World’s Richest Man

Jeff Bezos became the richest man in October 2017 after his net worth increased to $150 billion. He came up with dozens of ideas with broad range of investments, all the way from real estate to retrieval of rocket ship engines from the ocean floor.

By Sayyed Shehzer Abbas

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Tesla’s founder, Elon Musk, broke this record in January 2021 to steal away the title of World’s Richest Man from Jeff Bezos with a net worth of more than $150 billion.

By the start of 2020, Musk’s net worth was around $27 billion and was barely in the top 50 richest people. In July 2020, his net worth was enough to take over Warren Buffett to become the seventh richest man in the world. In November, Musk raced past Bill Gates to become the world’s second richest person. It only took Musk 12 months to reach the goal of Gate’s entire net worth of $132 billion.

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Amazon was performing really well until its share price remained subdued due to potential for increased regulation in Washington. Tesla share price soared ninefold after the demand for electric cars jumped in and the world decided to move into a sustainable future to help the environment and wean off the use of internal combustion engines.

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Musk owns 20 percent of Tesla’s shares and the current market value of the company according to the S&P 500 Index of the World’s Biggest Companies has exceeded $700 billion for the first time this week. This makes Tesla’s worth more than the most common automotive manufacturers like Toyota, GM Volkswagen, Ford, and Hyundai combined.

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Elon Musk is now $1.5 billion richer than Jeff Bezos. It is expected that charts of net worth will keep on increasing and soon hit a $200 billion benchmark as the project SpaceX reaches its goals. Much more is expected from the upcoming times.

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