Tesla's share price increased on Thursday, which helped Elon Musk surpass Jeff Bezos, who had been the richest person since 2017 with a current net worth of about $184 billion. The wealth surge marked the fastest rise to the top in history over the years.
Just 18 months ago, he was in the headline for Tesla's rapid cash burn and his personal leverage against the company's stock.
Elon Musk might be the only one whose 2020 went well. He was barely in the top 50 richest people with a net worth of about $27 billion at the beginning of 2020.
He can add more than $150 billion to his net worth with Tesla's rocketing share price. It has increased more than ninefold over the past year.
Due to increased regulation from Washington, Amazon's share price remained more subdued.
In July, Elon musk became the seventh richest person in the world, surpassing Warren Buffett. Within a short span of 4 months, Elon musk successfully became the second richest person globally, leaving Bill Gates behind. Musk's net worth over the past 12 months is more than Bill Gate's entire net worth of $132 billion.
The share value of Tesla closed at $816.04 on Thursday, up almost 8%, which helped to grow its market value by more than $760 billion.
Bloomberg Billionaires Index and the Forbes Real-Time Billionaires List had a different report. On Wednesday, Bloomberg Billionaires Index showed that Elon musk's net worth was $3 billion behind Bezos' net worth. The Forbes Real-Time Billionaires List had Musk approximately $7 billion behind Bezos after the market closed on Thursday.
The value of Musk's options received as a part of his pay package may not be included by Forbes, which helped him buy more than 33 million Tesla shares.