Tesla CEO Elon Musk Now Richest Man in the World; Net Worth Surpasses $230B

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Edited by: TJVNews.com

It appears that Tesla CEO Elon Musk has a new designation in his storied life. According to Bloomberg Billionaires Index, his net worth has surpassed $230 billion, which now translates into him assuming the throne as the richest man on the planet after shares at SpaceX skyrocketed by 33 percent.

In the middle of last year Musk joined the Forbes top ten billionaire list but has now surpassed the former world’s richest person, Amazon founder Jeff Bezos. At present, Musk is wealthier than Bill Gates of Microsoft fame and Warren Buffett combined.

Before founding Tesla and Space X, Musk has been a co-founder of PayPal.

CNBC reported that Gates sits in fourth place with $130 billion and Buffett is No. 10 with $102 billion.

Musk first passed Bezos to become the world’s richest man in January with a net worth of $185 billion. Bezos had held the title since 2017, as was reported by CNBC. Bezos is still the second-wealthiest person on earth with a $191 billion net worth.

According to Forbes Real-Time Billionaires List as of October 17, 2021, these men are the top billionaires in the world.

Jeff Bezos -$197 billion

Bernard Arnault and family – $185 billion

Bill Gates – $132 billion

Mark Zuckerberg –  $116 billion

Larry Ellison – $125 billion

Larry Page – $120.9 billion

Sergey Brin – $116.2 billion

Warren Buffett – $103.1 billion

Mukesh Ambani – $102.2 billion

The Tesla founder saw his and his SpaceX company’s wealth swell after a share sale at SpaceX on October 8th worth $100 billion in a secondary offering, as was reported in article on TheWill.com web site.

Informed people close to the deal told CNBC that the company had an agreement with both new and existing investors to sell up to $755 million in SpaceX stock from insiders at $560 per share.

TheWill.com reported that the 33 percent increase in its new share price brings the company’s valuation to $100.3 billion, after initially offering the deal to investors in February, when SpaceX’s valuation stood at $74 billion at 419.19 a share.

The first round of offerings raised nearly $1.2 billion, according to CNBC.

The company’s new increased valuation places it in the rare company of a private ‘centicorn’ or ‘hectocorn,’ which are companies with a valuation of $100 billion, as was reported by TheWill.com

CB Insights has reported that SpaceX is now the second-most valuable private company worldwide behind only China’s Bytedance.

Flush with pride over his new standing in the world of finance, CNBC reported that Musk took to Twitter and sent a second place silver medal emoji to Bezos.

TheWill.com reported that in April of this year, Musk pledged to give away $150 million, including a $100 million prize in a carbon removal contest, where the billionaire asked participants to create workable solutions for reducing the planet’s CO2 emissions at scale in a ‘durable and sustainable way.’

The contest started on Earth Day and will run for four years, ending on Earth Day 2025, or April 22, 2025.

Since beginning that contest in April, his wealth has increased by around $60 billion, with Bloomberg reporting that the SpaceX deal alone added $11 billion to Musk’s net worth, as was reported by TheWill.com

Musk has seen his own net worth soar thanks to Tesla and SpaceX’s rising valuations, with the latter having raised billions in an effort to fund two capital-intensive projects, Starlink and Starship. (Sources: TheWill.com and CNBC)

 

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