Jan. 7 (UPI) — Elon Musk grew to become the world’s richest particular person Thursday with a internet value of greater than $185 billion.
Tesla inventory elevated by 7.94% on Thursday pushing Musk’s internet value above Amazon CEO Jeff Bezos, who had been the world’s richest particular person since 2017 with a present internet value of about $184 billion.
Performing as CEO and product architect of Tesla, and founder and CEO of SpaceX, Musk started 2020 with a internet value of about $27 billion, inserting him barely among the many 50 richest folks on this planet.
All year long he made his means up the checklist, overtaking Warren Buffett to take seventh place in July and surpassing Invoice Gates to change into the world’s second-richest particular person in November.
Musk added greater than $150 billion to his internet value over the previous yr as Tesla inventory shot up in worth and he obtained an in depth pay package deal.
Tesla inventory surged 743% in 2020 after reporting constant income, and shares have gained greater than 23,900% since its preliminary public providing in 2010.
The inventory additionally debuted on the S&P 500 index on Dec. 21.
Musk’s rise in wealth comes after he was compelled to step down as chairman of Tesla’s board in 2018 as a part of a settlement with the Securities and Alternate Fee after tweeting he was exploring taking the corporate personal at $420 per share.