The big picture: Serial entrepreneur Elon Musk has surpassed Amazon founder Jeff Bezos as the richest person in the world. Bezos has been at or near the top of the list for several years now, most of his wealth owing to his stake in Amazon. Musk, meanwhile, has seen his net worth swell substantially over the past year due to the skyrocketing share value of Tesla.
One year ago to the day, Tesla closed at a value of $93.81. As of writing, share value in Musk’s electric vehicle company is up nearly seven percent on the day and is trading at $807.09. The rally was enough to push Musk ahead of Bezos according to Bloomberg and its Billionaires Index, which ranks the world’s top 500 wealthiest people.
As CNBC highlights, Musk’s rise over the past year has been nothing short of incredible. According to the publication, he has gained more wealth during the trailing 12 months than Bill Gates’ entire net worth of $132 billion.
About half my money is intended to help problems on Earth & half to help establish a self-sustaining city on Mars to ensure continuation of life (of all species) in case Earth gets hit by a meteor like the dinosaurs or WW3 happens & we destroy ourselves
— Elon Musk (@elonmusk) October 12, 2018
In 2018, Musk said roughly half of his money was intended to solve issues here on Earth while the rest will be used to establish a self-sustaining city on Mars.