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Back up billionaires there's a new king of the hill, Elon Musk is now the world's richest man. How much is his net worth?

Ending 2020 on a high: How Elon Musk’s net worth skyrocketed

Time to polish your Tesla because Elon Musk has just been labelled “the richest person in the world!” Since 10:15 AM in New York City, the electronic entrepreneur Elon Musk reached a net worth we’ve all dreamed of.

At the start of 2020, Elon Musk had a net worth of $27 billion. CNBC compared Elon Musk’s billionaire net worth to fellow billionaire Warren Buffet who was the seventh richest person until July 2020. Since then, Musk continued to persevere and finally beat Bill Gates in November 2020 as the second richest person in the world.

According to The Washington Post, on Thursday, 7th January 2021, Elon Musk just reached a new level of billionaire. But how? 

Who is Elon Musk?

Elon Musk was born & raised in Pretoria, South Africa before he became the most successful American proprietor in the world. Elon Musk’s net worth comes from his large entrepreneur adventures. Musk is currently the CEO of SpaceX (Space Exploration Technologies Corp), the founder of 2018’s The Boring Company, co-founder of a neurotechnology company called Neuralink and proud owner of Tesla.

The Guardian expressed that Elon Musk wants to use at least half of his fortune to “help problems on Earth” and “half to help establish a self-sustaining city on Mars to ensure continuation of life (of all species) in case Earth gets hit by a meteor like the dinosaurs or WW3 happens & we destroy ourselves”. Thanks Elon!

Elon Musk’s new net worth

According to CNBC Elon Musk has been one of the richest people in the world since 2017. Musk’s current net worth is $184 billion and has only blown up since his financial turnaround with his electric car company, Tesla. Musk’s Tesla company received a major increase with Musk using “personal leverage” against Tesla Incorporated’s stock.

Forbes reported that Elon Musk currently holds a twenty-percent stake in Tesla with a theoretical profit of $42 billion from stock options in 2012 & 2018. Since then he became “the largest pay deal ever struck between a CEO and a corporate board.”

https://twitter.com/elonmusk/status/1347204459147902978

The CEO of SpaceX Elon Musk added a new number to his 2020 net worth with $150 billion. Bloomberg reported that Musk’s earnings may be the “fastest bout of wealth in creation in history.”

Elon Musk’s thoughts about his “richest person in the world” title was taken to Twitter. Musk tweeted, “How strange”. Musk’s net worth didn’t phase him much with his second tweet, “Well, back to work.”

Tesla

The American clean energy company’s stock price has continued to conquer against other auto manufacturers. Bloomberg Wealth reported that Elon Musk’s Tesla had generated “over half-a-million cars” in 2020 alone and has continued to thrive since the start of 2021.

CNBC announced that Tesla’s shares grew over five-percent and almost exceeded $800 on Thursday January 7th, 2021. Since then Elon Musk’s net worth has been boosted from Tesla since reaching a market value of $750 billion.

Battle of the billionaires

The feud between SpaceX & Blue Origin is far from over. According to Bloomberg Wealth, Elon Musk topped Amazon’s Jeff Bezos net worth when he became the richest man in the world. Jeff Bezos lost his giant lead over Elon Musk when Bezos divorced MacKenzie Scott in 2020.

Elon Musk beat Jeff Bezos who just donated a sum of his shares worth $680 million in November 2020. However, Musk currently has a 4.8% share price that placed him as the top dog. Musk’s net worth beat internet entrepreneur Jeff Bezos by a whopping $1.5 billion thanks to SpaceX & Tesla.

Elon Musk is the richest man in the world! Musk may have 2020 to thank for his incredible net worth, but will he manage to keep the number one spot in 2021? Let us know in the comments below.

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