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Elon Musk becomes world’s Richest Person With wealth exceeding US$185 billion

Elon Musk

Elon Musk has a net worth of more than US$185 billion (£136 billion) and has become the world’s richest man. After Tesla’s share price rose on Thursday, entrepreneurs from Tesla and SpaceX were pushed to the top of the list.

Since Jeff Bezos, who has been the founder of Amazon since 2017, has topped the list. Elon Musk‘s electric car company Tesla has soared in market value this year, reaching $700 billion (£516 billion) for the first time on Wednesday.

This makes this car company worth more than Toyota, Volkswagen, Hyundai, GM, and Ford combined.

Elon Musk reacted to the news, responded with a signature, and replied to a Twitter user, calling it “how strange.”

An older tweet is pinned to the top of his feed to learn more about his thoughts on personal wealth.

“About half of the money is used to help problems on Earth, and the other half is used to help build a self-sustaining city on Mars to ensure the continuation of life, in case the Earth suffers from meteors like dinosaurs. Or the third world war happened and we destroyed ourselves.”

Elon Musk

The fate of this tycoon is boosted by American politics, and the Democrats will control the U.S. Senate at the upcoming meeting.

Wedbush Securities analyst Daniel Ives wrote: “The Blue Senate is very optimistic. It is a potential “game-changer” for Tesla and the entire electric vehicle industry. It will definitely be accepted now. A greener agenda year will be proposed in the next few sessions.”

He added that Tesla is expected to benefit from the electric vehicle tax credit, “Tesla remains unbreakable in the market today.”

In the past year, Mr. Bezos’ wealth has also increased. The coronavirus pandemic means that Amazon benefits from strong demand for its online stores and cloud computing services.

However, after the spin-off, he gave 4% of his business to his ex-wife MacKenzie Scott, which helped Elon Musk surpass him.

Also, the threat of regulation means that Amazon’s stock price has not reached the level it should be.

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