Jae C. Hong/Victor Tangermann
Money Makes the Musk Go Around

Elon Musk Poised to Become the Richest Person in the World

byVictor Tangermann
Jan 7
Jae C. Hong/Victor Tangermann

He already took down Gates. Now, Bezos is in his sights.

Richie Rich

According to Bloomberg‘s Billionaire Index, Tesla and SpaceX CEO Elon Musk could soon surpass Amazon founder Jeff Bezos to become the richest person in the world.

Share prices of Tesla surged this week, bringing Musk within “just” $3 billion of Bezos’ net worth, according to the Index, which is estimated to be $184 billion. For perspective, that’s the gross domestic product of a small country.

The news comes after Musk surpassed Bill Gates’ net worth on the Index in November.

Rapid Rise

Tesla’s shares have been rallying for several months now. Share prices surged 743 percent in 2020 alone, according to Bloomberg. Despite producing only a fraction of the cars, Tesla has swiftly become more valuable than Ford and General Motors.

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And Tesla’s future looks bright as well, as Bloomberg points out, with Democrats poised to take control of both houses of Congress. The Democratic party has been far more inclined to advocate for the electrification of cars, while a GOP-led Senate has largely been lining the pockets of the oil and gas industry throughout Trump’s term.

The news is also representative of a massive shift of capital towards the world’s richest people throughout the pandemic. The world’s 500 richest people gained a nauseating $1.8 trillion in 2020, according to Bloomberg.

READ MORE: Elon Musk Close to Surpassing Jeff Bezos as World’s Richest Person [Bloomberg]

More on Elon Musk’s wealth: ELON MUSK JUST BECAME THE SECOND RICHEST PERSON IN THE WORLD

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