- Elon Musk briefly surpassed Jeff Bezos as the richest person on the planet on Thursday.
- The Tesla and SpaceX CEO's fortune soared as high as $184 billion on Thursday, outstripping the Amazon chief's fortune, according to calculations based on the Bloomberg Billionaires Index.
- Musk's wealth derives from his roughly 20% Tesla stake and 48% SpaceX stake, as well as 57 million exercisable Tesla stock options, Bloomberg says.
- The Tesla chief has added more than $150 billion to his fortune in the past year, after shares in his electric-vehicle company rocketed up 740% in 2020.
- Visit Business Insider's homepage for more stories.
Elon Musk briefly overtook Jeff Bezos as the world's wealthiest person for the first time on Thursday, based on calculations using the Bloomberg Billionaires Index.
Tesla shares shot up as much as 5% on Thursday, boosting the net worth of its CEO to north of $184 billion. However, Amazon's shares eventually climbed as much as 2%, lifting Bezos' fortune even higher.
The Bloomberg Billionaires Index listed Musk and Bezos' fortunes as $181 billion and $184 billion respectively as of Wednesday's close. The rankings are set to be updated after trading ends for the day.
Read more: Investing legend Terry Smith's $30 billion equity fund returned 449% to investors over a decade — Here's his 4-part strategy for success and 10 pieces of investing wisdom to take into 2021
Musk's wealth on paper reflects his roughly 20% stake in Tesla and 48% stake in SpaceX, as well as 57 million vested Tesla stock options, Bloomberg says. Bezos' net worth largely derives from his 11% stake in Amazon.
The Tesla CEO's fortune has ballooned by more than $150 billion in the past year, Bloomberg said, after the electric-vehicle company's stock price rocketed up 740% in 2020.
Read more: Wall Street experts are calling Georgia's runoff results 'the first surprise of 2021.' Here's how 4 of them recommend positioning your portfolio for what could happen next.
Musk and Bezos have left other billionaires in their rearview mirrors. The world's third-richest person, Bill Gates, was worth $132 billion as of Wednesday's close.
Learn more about the financial services industry.
Source: Read Full Article