Elon Musk is the World’s Wealthiest Individual Now!
In a previous article in November last year we told you that, Elon Musk became the second richest man in the world, surpassing Microsoft owner Bill Gates. Check that story here!
Amazon owner Jeff Bezos has topped the list of the world’s richest people since 2017, but now Elon Musk has beaten him to become the richest man in the world.
“How strange,” Musk tweeted Thursday. “Well, back to work …”
Musk had a wealth of around $27 billion at the beginning of 2020, and was only in the top 50 of the richest people. According to the Bloomberg Billionaires Index, Elon Musk’s net worth is currently $ 195 billion, while Jeff Bezos’ total net worth is $ 185 billion.
The soaring share price of Tesla, which over the past year has risen more than nine times, and his lavish compensation package has added more than $150 billion to his net worth. Musk owns about 20% of Tesla’s stock, with many citing Tesla’s sharp rise in market prices over the past period.
The stock stash of Musk continues to rise, particularly after he signed with the company a big 10-year compensation package in 2018 that further linked his earnings to the stock price and revenue goals of Tesla. Any time a new milestone is reached, he is given a package of company stock options. The first installment, which he got earlier this year, was worth some $800 million.
However, even though his assets are 195 billion, he does not have this value in cash and it should be kept in mind that this value is formed from the shares of the companies. About 20% of Tesla’s shares and 48% of SpaceX’s shares have contributed to Elon Musk’s $ 195 billion in assets, according to Bloomberg’s website.
By the standards of money-focused outlets like Bloomberg and Forbes, Musk may now be the richest man on the planet, but they prefer to concentrate on measuring knowable assets. Authoritarian leaders such as Vladimir Putin and Mohammed Bin Salman, however, are also incredibly wealthy individually in ways that are more difficult to quantify and often have unchallengeable access to their nations’ immense resources, according to TechCrunch.
