Elon Musk Now The World’s Richest Man

By Ben Hamill - January 12 2021

Elon Musk Now The World’s Richest Man

Love him or hate him, Elon Musk is a name you can’t get away from these days. Not even in space. Now, after coming close several times, the entrepreneur has finally toppled Amazon owner Jeff Bezos off the top of the list as the world’s richest man. Bloomberg has announced that Musk is now in the top spot, and Musk is no doubt thrilled.

Musk’s Tesla shares have been largely responsible for knocking Bezos off the podium, as they have surged eightfold in the last few months. The auto brand has become the world’s most valuable carmaker and with it, Musk’s fortune has swelled. Musk now has a nett worth of an incredible US$188.5 billion, more than $1.5 billion more than Bezos.

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A Fortune That Keeps Growing

Musk has become something of a controversial figure over the years, but that hasn’t dampened his entrepreneurial spirit at all. He has a rather colourful private life, and has never been one to shy away from controversy.

He first made waves when he sold PayPal Holdings Inc to eBay for an incredible $165 million and from there went on to live his dream of creating some of the most futuristic companies in the world. Musk’s lack of fear of failure and his desire to conquer space have seen him make some interesting decisions, but financially, he has always seemed to have his feet firmly on the ground. Even with risky rocket launches that cost millions of dollars at a time, the man seems to know what he’s doing. Or his accountants do any way!

Diverse Business Assets

Musk has been claver in investing in advancing technologies that many others have been shy to. While Bezos has largely stuck with his formulaic ecommerce empire and grown into the digital and web services space, Musk has shot for the stars – literally.

In addition to Tesla, he heads up his rocket company SpaceX, which designs, manufactures and launches rockets and spacecraft. Musk aims to improve space technology to the point where we can colonize Mars, and so far, he’s been on track.

He’s also working hard on Neuralink, a start-up company that focuses on developing ultra-high bandwidth machine that interface with the human brain. These machines connect the brain to computers and have multiple functions, including the use in the combatting of disease.

There’s also his Boring Company that aims to create hyperloop systems that tunnel under America and Canadian cities and offer high speed transport alternatives to reduce carbon emissions and traffic jams.

With so many fingers in so many pies, it’s easy to see how Musk is making his fortune. Claiming the title as the richest man in the world is no small feat, and will certainly make him feel his entrepreneurial efforts are paying off

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