Elon Musk Is Now The Richest Person In The World

Elon Musk, CEO of Tesla and SpaceX has surpassed Jeff Bezos as the richest person in the world as of this morning. Stocks of Tesla rapidly increased in value early this morning, with Musk’s worth now sitting at $185 billion.

Pushing Elon above Jeff Bezos, and previous richest person in the world Bill Gates, his worth has tripled in 2020 thanks to Tesla stocks increasing by 700% over the course of the year. Now, thanks to a profitable last quarter, 500,000 car deliveries, and the outperforming of Wall Street estimates, Musk and the company is now reaping the benefits.

Both Tesla and SpaceX dominate their industries, with the former being the go-to EV carmaker for a lot of the population, while also being a leader in EV technology that has been shared with some of the most legendary and most successful marques in the world.

Musk doesn’t receive a salary from Tesla, but is the majority shareholder in the company with an ownership of 20.9% of the total value. By law, Musk must receive the California state minimum required salary, but the tech entrepreneur insists that “it just ends up accumulating in a Tesla bank account somewhere”.

Tesla shares are now sat currently at $805.80 up 6.59%.