Wednesday, January 27, 2021Canada's Leading Online Business Magazine

Musk Richest Person in the World

Elon Musk - twitter

CBJ – Not everyone is suffering financially during this prolonged global pandemic.

Elon Musk, the 49-year-old entrepreneur who heads Tesla and SpaceX, is now the richest person in the world – at least based on stock value on paper.

The recent 5% upswing of Tesla stock puts the South African-born Musk’s personal wealth at an estimated $189 billion, or about $1.5 billion more than Amazon founder Jeff Bezos.

In just over a year Musk’s wealth has skyrocketed by about $150 billion, thanks to Tesla’s share price surging by about 750%.

Despite some early hiccups, Tesla produced just over 500,000 vehicles last year, which is still a fraction of what GM and Ford put out, but the key factor for Musk is that his vehicles focus on electric power and autonomous.

Microsoft co-founder Bill Gates, who for many years held the title of world’s richest person, now sits third on the list.

@CanBizJournal

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