Elon Musk, the chief executive officer of Tesla and SpaceX, who is the former CEO of Dogecoin (DOGE), has become the richest man in the world.
Musk is well known in the cryptocurrency space as a stern supporter of the digital token created out of meme, DOGE. He’s made countless tweets in support of the cryptocurrency.
However, it’s not certain if he invests in the digital currency, but he had claimed in the past that his Bitcoin (BTC) holding is still intact.
Elon Musk Is Now the Richest Man in the World
There was an increase in Tesla’s share on Thursday, which aided the outspoken tech expert to number one on the list of world’s richest human, beating Jeff Bezos, the founder of Amazon.
At 10 AM in New York on Thursday, Elon Musk’s net worth was $188.5 billion, $1.5 billion more than Jeff Bezos’ net worth. According to estimation, the Tesla CEO’s wealth increased by over $150 billion in the space of 12 months, thanks to a rally in Tesla’s share price, which gained about 743% in 2020. 6.5%, which is a single-day rise in the price of Tesla’s share pushed Musk’s wealth ahead of Bezos on Thursday.
Why Elon Musk Was Able To Attain Such A Milestone With Little Effort?
This milestone would have been difficult for Elon Musk – an entrepreneur born in South Africa – to attain if not for Bezos’ philanthropy, such as his donation of $680 million worth of Amazon shares in November 2020. And his divorce, which led him to part with 25% of his stock in the e-commerce giant to MacKenzie Scott, his ex-wife.
However, the rally in Tesla’s stock price was also initiated by the success recorded by the company in 2020.
Last year, the automobile company managed to deliver relatively 500,000 cars as sales increased by 36% compared to 2019. Also, the company reported enormous profits in the last quarter of 2020 and its stock was added to the S&P 500 index.
All these listed above are significant achievements that can easily be attributed to what pushed Elon Musk ahead of other billionaires across the world.