Space X founder and CEO Elon Musk has surpassed Jeff Bezos in net worth to become the world’s richest person, according to Bloomberg.
Musk surpassed Bezos after a 7.9 percent surge in Tesla shares on Thursday increased the value of Musk’s stock holding to $194.8 billion.
According to Bloomberg, Musk’s new net worth is $9.5 billion more than Amazon CEO Jeff Bezos’ net worth estimated at $185.3 billion.
As of this writing, the Bloomberg Billionaires Index lists Musk’s net worth at $195 billion, while Bezos’ net worth is estimated at $185 billion.
Bill Gates is third on the list with a net worth of $134 billion.
Twitter users react
On Thursday, Musk reacted to the news that he is now the richest man in the world, tweeting “How strange.”
Elon Musk overtook Jeff Bezos as the world’s richest person, reports @business.
Musk had made at least $68 billion during the pandemic. Meanwhile, last year:
– There were 2.3 million layoffs
– 1 in 8 homes did not have enough to eat
– 19.5 million on jobless aid in mid-Dec pic.twitter.com/OtTYO2BTys
— AJ+ (@ajplus) January 7, 2021
A young Elon Musk, who just wanted to change the way we pay for things online and now became the richest man in the world, after making electric cars, launching rockets into space, and now wanting to offer connection to everyone. The real Iron Man pic.twitter.com/bBGRFQQvDH
— Elon News 🚀 (@elonnewsX) January 7, 2021
Many Twitter users commented on the irony of Musk increasing his net worth by billions of dollars during the coronavirus pandemic while millions of other Americans lost their jobs and many became homeless.
Forbes still ranked Bezos the world’s richest man
Forbes even published a rebuttal of Bloomberg’s report, insisting that Elon Musk is not yet the richest man in the world.
Forbes ranked Bernard Arnault and his family ahead of Bill Gates as the third richest in the world, with a net worth of $152.8 billion.
Tesla’s stock price rose dramatically in 2020
Musk’s net worth has risen sharply in 2020, thanks to the skyrocketing value of Tesla’s stock prices.
Earlier in November 2019, Monsters and Critics reported that Musk’s net worth of about $24.4 billion plunged after a botched demonstration of the strength and durability of Tesla’s new Cybertruck.
The supposedly bulletproof side windows shattered when Tesla’s chief designer Franz von Holzhausen hurled a metal ball at it.
Soon after the botched demonstration, Tesla’s share price plunged by about six percent in a day. The drop led to Musk losing $765 million in net worth. His net worth fell from about $24.4 billion to $23.6 billion, according to Forbes.
While many linked the sudden and sharp fall in Tesla’s share price to the botched demonstration, some analysts expressed doubt, saying other factors contributed to the drop.
However, the fall in share price was only temporary as it rallied soon after, and in November 2020, Musk surpassed Bill Gates to become the second richest man in the world.
Forbes first ranked Bezos the richest man in the world in 2017
Forbes first ranked Jeff Bezos the richest man in the world back in July 2017. He lost the position temporarily to Bill Gates, but regained it in October 2017, according to Forbes.
Back in February 2020, Monsters and Critics reported that Bloomberg estimated Bezos’ net worth at $132 billion, while Forbes estimated his net worth at $131.2 billion.