The rich are indeed getting richer; in just a single day, the world’s richest man gained $13 billion in his net worth over a single night while Tesla CEO Elon Musk is now officially the world’s fifth richest person as his company stock price continues to soar.
Amazon founder Jeff Bezos’ single day leap is the greatest that was observed in history, according to the Bloomberg Billionaire List. With an astounding fortune of $189.3 billion, some have predicted that Bezos may become the first ‘trillionaire’ in history should Amazon stocks continue to rise.
Amazon has been one of the greatest beneficiaries of the global pandemic with dramatic increases in online shopping. While other industries tanked, Amazon stock prices increased by 75% since the beginning of 2020.
Bezos, who owns 11.3% of his company’s stocks, now has a personal worth even greater than global companies such as McDonald’s and Nike. He leads familiar names like Bernard Arnault, Bill Gates and Mark Zuckerberg in the list.
49 year old Elon Musk is chasing the older Bezos from behind with his $74 billion net worth. His increasing personal worth is also thanks to increasing stock prices; Tesla stock prices increased by four times since the beginning of this year, becoming the world’s highest value auto company.
In fact, the Tesla stock worth is greater than the sum of General Motors, Ford, BMW and Ferrari combined according to the Daily Mail.
When asked about his immense personal worth, the idiosyncratic founder of Tesla and SpaceX responded in a nonchalant manner. Saying that those numbers always fluctuate, Musk said he is much more interested in providing consumers with what they want.
Just four months ago, Musk had an estimated net worth of $25 billion, ranking as the 31st most richest man on the globe. With notable successes such as the launch by SpaceX, Musk’s worth has increased by three times in that time.
While the exact structure of the company stocks are not very clear, about three quarters of the entire stock is held by company executives and large investors. The success and popularity of the stock is not limited in the US; for instance, Tesla stocks were the most traded foreign stock in South Korea.
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Replaced!