As his fortune continues to rise at an incredible pace, Elon Musk has now become the wealthiest individual in the world, officially overtaking Jeff Bezos, Amazon AMZN + 0.7% CEO.
Musk’s electric vehicle producer Tesla TSLA’s share of +7.8 percent increased by another 8.2 percent at 11:30 a.m. EST moved Musk’s net worth up by $12.5 billion on Friday, to $189.7 billion. According to Forbes’ estimates, that makes him the richest individual on the planet.
The Tesla chief did not officially take the number one spot until Friday morning, despite a story from Bloomberg earlier this week saying that Musk became the world’s richest person on Wednesday, by Forbes’ estimates. He’s almost $5 billion ahead of the former world number one, Jeff Bezos, who, at 11:30 a.m. EST, has a net worth of $185 billion.
Initially, Musk overtook Facebook FB -0.4% CEO Mark Zuckerberg (who today is worth $96.9 billion) to become the fourth-richest person in the world in early November, then surpassed Microsoft MSFT +0.6% co-founder Bill Gates (today worth $122 billion) for the number three spot. Musk leapfrogged over French luxury tycoon Bernard Arnault a month later (worth $154.8 billion today) to become the second wealthiest individual in the world.
Since March 2020, when he was worth $24.6 billion, Tesla’s billionaire CEO has added $165 billion to his fortune. Most of that rise is attributed to the skyrocketing share price of Tesla, which increased more than 720 percent in 2020. In the first week of 2021, it added another 20 percent.