Founder of Tesla Inc. and SpaceX, Elon Musk has now become the richest person in the world. Elon Musk has surpassed Jeff Bezos on the Bloomberg Billionaires Index, a ranking of the world’s 500 wealthiest people. The credit goes to the 4.8% rally in the electric carmaker’s share price on Thursday. Musk himself was raring to go back to work even after knowing that his net worth reached a staggering $188.5 billion.
The South African entrepreneur behind Tesla Inc and SpaceX is now the richest person on the planet. The astonishing thing about this fact is that when Musk got to know about the news he himself found it “strange”.
On Thursday, a Twitter account called ‘Tesla Owners of Silicon Valley’ shared the news to the 49-year-old business magnate becoming the world’s richest person and earned a twisted response from Mr. Musk himself. “How strange,” Elon Musk replied, and followed it up by saying, “Well, back to work …”
In an interview last month, he said he wants to use his wealth to build a city on Mars. “I want to be able to contribute as much as possible to the city on Mars,” Elon Musk said. “That means just a lot of capital.” Elon Musk shares that he has little interest in material things and has few assets outside his stakes in Tesla and SpaceX.
Musk, who is 49 years old entrepreneur, has profited from Tesla’s stratospheric rise in several ways. In addition to his 20% stake in the carmaker, he is standing on about $42 billion of unrealized paper gains on vested stock options. Those securities come from two grants he received in 2012 and 2018, the latter of which was the largest pay deal ever struck between a CEO and a corporate board.
The world’s 500 richest people have added a record of $1.8 trillion to their combined net worth last year which is equal to a 31% increase. According to a report in Bloomberg, “Fueling Elon’s rise was an unprecedented rally in Tesla’s share price, which surged 743% last year on the back of consistent profits, inclusion in the S&P 500 Index, and enthusiasm from Wall Street and retail investors alike.”