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American businessman and engineer Elon Musk became the richest man on the planet. Bloomberg reports.
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After Tesla shares rose 4.8% on Thursday, January 7, Musk beat out Amazon founder Jeff Bezos, who has held the lead since October 2017.
Musk’s fortune at 5:15 p.m. Kiev time was estimated at $ 188.5 billion, $ 1.5 billion more than Bezos.
Musk has grown by $ 150 billion over the past year, possibly the fastest-growing fortune in history, the agency said. This was fueled by an unprecedented rise in Tesla’s stock price, which rose 743% year-over-year thanks to strong earnings, the inclusion of S&P, and enthusiasm from both Wall Street and individual investors.
Bloomberg notes that Bezos would still be ahead of Musk were it not for his divorce, as a result of which he lost a quarter of his stake in Amazon.
Despite the astronomical gains, Musk says he has little interest in tangibles and has few assets beyond his stakes in Tesla and SpaceX. In an interview with Axel Springer, he claimed that he was using wealth to accelerate humanity’s evolution towards a space civilization.
“I need the opportunity to contribute to the development of a city on Mars,” Musk said.
After posting a report on his new status, Musk tweeted: “How strange” and then added: “Well, back to work.”
Also read: Fortune named the best businessman in the world of 2020. Why is Elon Musk?
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