HomeNewsElon Musk’s Net Worth Skyrockets, Tesla CEO Is Now $100 Billion Richer Than Amazon’s Jeff Bezos

Elon Musk’s Net Worth Skyrockets, Tesla CEO Is Now $100 Billion Richer Than Amazon’s Jeff Bezos

by TK Sanders
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(Photo by Pascal Le Segretain/Getty Images)

Elon Musk, who owns around 172 million shares of Tesla stock, saw his net worth climb to nearly $300 billion over the course of the last two years. One of the biggest benefactors of the pandemic, Musk’s electric vehicle company has surged 79 percent year over year to an astounding $1,025 per share. Amazon founder Jeff Bezos currently sits in second place on the World’s Richest list with around $185 billion of his own cash in the bank.

At a glance

  • According to the latest Forbes List and Daily Mail reports, Elon Musk now boasts a net worth of $282 billion
  • Musk knocked Amazon founder Jeff Bezos off the top spot last year as Tesla’s price per share surged during the pandemic
  • Musk’s wealth peaked in November of 2021 at close to $340 billion when the NASDAQ hit record highs
  • He recently invested heavily in Twitter, becoming the company’s largest shareholder overnight

Heading into the COVID-19 pandemic, Elon Musk’s net worth sat at “just” $26.6 billion in 2020. Since then, Tesla’s stock has soared to unprecedented heights. Musk’s 2020 bump of over $100 billion in personal net worth is a modern-day record by any calculations.

Musk is now $115 billion richer than LVMH CEO Bernard Arnault, the third richest man in the world with a net worth of $167.4 billion. He also sits well above the figures for Microsoft founders Bill Gates ($134.2 billion) and Steve Ballmer ($97 billion). Warren Buffet rounds out the Top 5 wealthiest people on the planet with his $127 billion fortune.

To put the absurd amount of wealth into true perspective, Musk could theoretically buy every sports team in every major league in America. That’s right; he could buy all 32 National Football League teams — currently, worth over $112 billion — and still have enough in the bank to buy all 30 NBA teams at about $61 billion, all 30 Major League Baseball teams at $54 billion, and all 32 National Hockey League teams at around $26.7 billion.

Elon Musk has a net worth similar to the entire financial output of his home country

The World Bank values the entire gross domestic product of Musk’s home nation of South Africa at $335 billion; so the hometown product needs only a few more good Telsa quarters to “buy” his entire home country.

With so much money at his disposal, Musk can throw his weight around at major companies without assuming any risk to his balance sheet or quality of life. The SpaceX CEO recently purchased a passive stake in Twitter for $2.4 billion, making him the largest shareholder overnight with 9.2 percent equity. News of the trade caused markets to flood Twitter with buying money, which led to Musk picking up a billion dollars in unrealized gains virtually overnight.

According to reports, Twitter offered Musk a board seat upon finalizing the purchase, which he initially accepted. News broke this morning, however, that Musk ultimately declined the board seat for unknown reasons.

In April 2012, Musk signed the Giving Pledge, an initiative meant to encourage the world’s wealthiest men and women to give away the bulk of their fortune during the course of their lifetimes. Musk has since multiplied his fortune hundreds of times over, so his giving pledge may need some amending.

Outsider.com