Elon Reeve Musk FRS (born June 28, 1971) is a business magnate, industrial designer and engineer. He is the founder, CEO, CTO and chief designer of SpaceX; early investor,CEO and product architect of Tesla, Inc.; founder of The Boring Company; co-founder of Neuralink; and co-founder and initial co-chairman of OpenAI. He was elected a Fellow of the Royal Society (FRS) in 2018. Also that year, he was ranked 25th on the Forbes list of The World's Most Powerful People,and was ranked joint-first on the Forbes list of the Most Innovative Leaders of 2019.As of January 7, 2021, Musk's net worth was estimated to be US$185 billion, making him the richest person in the world, surpassing Jeff Bezos.Musk was born to a Canadian mother and South African father and raised in Pretoria, South Africa. He briefly attended the University of Pretoria before moving to Canada when he was 17 to attend Queen's University. He transferred to the University of Pennsylvania two years later, where he received dual bachelor's degrees in economics and physics. He moved to California in 1995 to begin a Ph.D. in applied physics and material sciences at Stanford University, but dropped out after two days to pursue a business career. He co-founded Zip2, a web software company, which was acquired by Compaq for $307 million in 1999. Musk then founded X.com, an online bank. It merged with Confinity in 2000, which had launched PayPal the previous year and was subsequently bought by eBay for $1.5 billion in October 2002.
Image from Space x
Elon Musk just became the richest person in the world, with a net worth of more than $185 billion.
Thursday’s increase in Tesla’s share price pushed Musk past Jeff Bezos, who had been the richest person since 2017 and is currently worth about $184 billion. Musk’s wealth surge over the past year marks the fastest rise to the top of the rich list in history — and is a dramatic financial turnaround for the famed entrepreneur who just 18 months ago was in the headlines for Tesla’s rapid cash burn and his personal leverage against the company’s stock.
Musk started 2020 worth about $27 billion, and was barely in the top 50 richest people.
Tesla’s rocketing share price — which has increased more than ninefold over the past year — along with his generous pay package have added more than $150 billion to his net worth.
Meanwhile, Amazon’s share price has remained more subdued due to the potential for increased regulation from Washington.
Elon Musk passed Warren Buffett in July to become the seventh-richest person. In November, Musk raced past Bill Gates to become the second-richest person. Musk has gained more wealth over the past 12 months than Bill Gates’ entire net worth of $132 billion.
Tesla’s shares closed Thursday at $816.04, up nearly 8%. The company’s market value has grown to more than $760 billion.
While the Bloomberg Billionaires Index had Musk within $3 billion of Bezos’ net worth on Wednesday, before Thursday’s trading, the Forbes Real Time Billionaires List had Musk about $7 billion behind Bezos after the market close Thursday. Forbes pegged Bezos’ net worth at $184.6 billion and Musk at $177.2 billion. Forbes, however, may not be including the value of Musk’s options, which he received as part of his pay package, to buy more than 33 million shares of Tesla.