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Elon Musk leaves behind Amazon's Bezos to become world's richest person - Bloomberg News

Published 01/07/2021, 10:46 AM
Updated 01/07/2021, 11:50 AM
© Reuters. Red carpet for the Axel Springer award, in Berlin
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(Reuters) - Tesla (NASDAQ:TSLA) Inc chief and billionaire entrepreneur Elon Musk surpassed Amazon.com Inc (NASDAQ:AMZN)'s top boss Jeff Bezos to become the world's richest man, Bloomberg News reported on Thursday.

Including Thursday's gains in Tesla shares, Musk, 49, had a net worth of more than $188.5 billion, $1.5 billion more than Bezos, the report said. (https://bloom.bg/3nnOz3U)

Musk's personal wealth has been boosted by last year's more than eight-fold surge in the shares of Tesla, which became the world's most valuable carmaker.

He has a 20% stake in the carmaker and about $42 billion of unrealized paper gains on vested stock options, according to the Bloomberg report.

Tesla shares were up as much as 7.4% on Thursday at a record high of $811.61.

The Forbes Billionaires List, however, said Musk still trails Amazon's Bezos by $7.8 billion. (https://

Forbes has a more conservative estimate based on the Tesla stake that he has pledged as a collateral for personal loans. To take that into account, it applies a 25% discount to his shareholding, according to its report in November.

Musk, who co-founded and sold Internet payments company PayPal Holdings Inc (NASDAQ:PYPL), now leads some of the most futuristic companies in the world.

Besides Tesla, he heads rocket company SpaceX and Neuralink, a startup that is developing ultra-high bandwidth brain-machine interfaces to connect the human brain to computers.

© Reuters. Red carpet for the Axel Springer award, in Berlin

He set up the Boring Company to make affordable tunnels below busy city streets for an all-electric public transportation system to avoid the nasty traffic jams in U.S. cities.

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