Tesla CEO Elon Musk passed Jeff Bezos on Bloomberg’s billionaires’ list to become world’s richest person on Thursday, a title the Amazon founder has held since October 2017.
Tesla shares gained another six per cent on Thursday and are changing hands at just shy of $800 US apiece. Musk is the biggest individual shareholder in Tesla, so the gain added more than $4 billion to his net worth.
That was enough to leapfrog Bezos into the top spot, as Musk is worth $188.5 billion US, according to Bloomberg, as off midday Thursday. That’s just ahead of Bezos at $187 billion.
Both men have seen their values skyrocket this year, with Amazon’s share price roughly doubling since March and Tesla’s gaining more than 700 per cent since the start of 2020.
Tesla cranked out about 500,000 cars last year, about as many as General Motors makes in a month. But despite that, Tesla is worth more than Ford, Honda, BMW, General Motors, Daimler, Volkswagen and Toyota put together.
That increase has seen Musk’s net worth rise by $150 billion US in barely a year.
Bezos, meanwhile, has also seen his net worth roughly double during the pandemic. And the Amazon founder would likely still claim the top spot were it not for his high-profile divorce, which saw him give roughly one-quarter of his wealth to his ex-wife, Mackenzie Scott, who helped him found Amazon.
Scott is worth slightly more than $52 billion US, according to Bloomberg, mostly from Amazon shares. Scott recently announced she has given away more than $4 billion during the pandemic.