Elon Musk Overtakes Jeff Bezos as World’s Richest Person

TESLA chief Elon Musk has begun 2021 by overtaking Amazon founder Jeff Bezos to become the world’s richest person with a net worth of $185 billion.

The South Africa-born electric car and clean energy tycoon saw his net worth rocket during 2020 from $27 billion to a staggering $185 billion. This time last year, Musk had barely scraped into the world’s top 50 wealthiest person list but thanks to the meteoric rise in Tesla share value he has now overtaken Bezos, who has been the world’s richest man since 2017 with a current net worth of $184 billion.

Elon Musk has risen to the top of the rich list faster than any other businessman in modern financial history, overtaking veteran tycoon Warren Buffet to 7th place in July 2020 and Microsoft’s Bill Gates to 2nd place last November.

The centri-billionaire can thank his phenomenal rise in capital to the success of Tesla shares, which are now worth nine times more than in last January. Meanwhile, Amazon saw one of its most profitable years yet thanks to the pandemic keeping shoppers away from the high streets and glued to their laptops. However, the fortune of founder and CEO Jeff Bezos has stalled in growth incrementally due to potential increased US regulation on his sprawling e-commerce empire.

Both tycoons are also competitors in the 21st-century space race, with Musk’s SpaceX and Bezos’ Blue Origin paving the way for the future of commercial space travel.

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