Musk overtook Jeff Bezos, Amazon CEO, on Thursday, following a 4.8 percent surge in Tesla’s share price.
The 49-year-old had his net worth rise $188.5 billion at 10:15 a.m. in New York, $1.5 billion more than Bezos, who has held the top spot since October 2017, according to Bloomberg Billionaire index.
About an hour later, Musk’s wealth climbed to $190 billion, following a surge in Tesla’s share price to $802 per share from only $92 a year ago.
As Musk and Bezos race to the $200 billion-mark, Bill Gates, the world’s richest man for almost 20 years, sits at a distant third with $132 billion.
In 2020, at the height of the COVID-19 pandemic, Musk overtook Gates to become the second richest man in the world.
For the first seven days of 2021, Musk has gained about $11.4 billion to leave both Gates and Bezos in the second and third positions.
Musk owns about 20% of Tesla, according to a February 2020 stock exchange filing. The company’s market cap is about $758 billion.
He is also the CEO of Space Exploration Technologies, a rocket manufacturer employed by NASA to resupply the space station.
The company is worth almost $50 billion and Musk holds more than half of its shares.
Click to signup for FREE news updates, latest information and hottest gists everyday
Advertise on NigerianEye.com to reach thousands of our daily users