Tesla CEO is now worth US $ 188.5 billion
It’s official: Tesla CEO Elon Musk has become the richest person in the world.
According to a billionaire list maintained by media company Bloomberg, Musk is worth US $ 188.5 billion on Thursday.
How did he do it, you might ask?
The billionaire list is calculated based on an individual’s overall wealth, including public and private data, stock prices, and information reported by private companies.
In Musk’s case, he’s Tesla’s largest individual shareholder, which means if the company is doing well, he’s doing it well.
It also means that he doesn’t have all of his money on hand, as a large part of it is currently in his stocks.
Musk’s company Tesla produced around 500,000 cars last year. That’s about as much as General Motors makes in a month. (Image credit: Hannibal Hanschke / Pool / Reuters)
Tesla is a California-based electric vehicle company focused on accelerating the global transition to sustainable energy with electric cars, solar and renewable energy solutions.
Tesla shares rose 6% on Thursday due to stronger than expected car deliveries.
This added more than US $ 4 billion to Musk’s overall net worth.
That was enough to propel him to the top spot, edging out Amazon founder Jeff Bezos, who has held the title since October 2017.
Who else is on the richest list?
As of March 2020, there were 2,095 billionaires in the world, according to Forbes, an American business magazine.
To put that in perspective, a billion dollar bills arranged end to end would go around the world almost four times.
Musk is worth US $ 188.5 billion, so his bills could circle the earth over 733 times.
But he’s not the only one doing tricks with his money.
Here’s a look at who’s following Musk on the list of the five richest people in the world.
2. Jeff Bezos
Amazon Founder Jeff Bezos speaks at the JFK Space Summit on June 19, 2019 to celebrate the 50th anniversary of the moon landing. (Image credit: Katherine Taylor / Reuters)
Musk and Bezos both have had good years when it comes to their investments.
During the pandemic, the founder of Amazon saw his net worth doubling to roughly US $ 187 billion.
He would likely still claim the top spot without his high-profile divorce, in which he gave around a quarter of his fortune to his ex-wife, Mackenzie Scott, who helped him found Amazon.
3. Bill Gates
Bill Gates was CEO of Microsoft until 2000. Since then he has gradually reduced his involvement in the business he started with Paul Allen in 1975. (Image credit: Jose Luis Magana / The Associated Press)
Bill Gates comes in third, his net worth approaching US $ 132 billion.
Gates is an entrepreneur and businessman who founded the world’s largest software company, Microsoft.
He is also known to be a philanthropist, that is, someone who donates his money to help other people in need.
4. Bernard Arnault
Bernard Arnault speaking at a press conference in France. Arnault is Chairman and CEO of LVMH Moët Hennessy Louis Vuitton, the largest luxury company in the world. (Image credit: Thibault Camus / The Associated Press)
Bernard Arnault is a businessman and art collector who oversees an empire of 70 brands including Louis Vuitton and Sephora.
With a network of around 114 billion US dollars, he is the richest person in the world when it comes to fashion.
5. Mark Zuckerberg
Facebook CEO Mark Zuckerberg speaks at the Paley Center in New York City. His net worth is largely tied to his Facebook stock. (Image credit: Mark Lennihan / The Associated Press)
Never seen the movie Social network?
If so, you might remember that Mark Zuckerberg is the co-founder of Facebook.
His net worth currently stands at US $ 99.9 billion, making him the fifth richest person in the world.
He’s also 36, making him the only person under 40 on the list.
With files from Pete Evans / CBC