In terms of growth in net worth, Elon Musk had an absolutely incredible year in 2020. The only person on the planet whose equity has grown more is Amazon founder Jeff Bezos. When Jeff started the year, his net worth was $ 115 billion. Today, Jeff Bezos’ net worth is $ 190 billion. This represents a $ 75 billion increase in wealth in just over six months. Elon Musk’s net worth was $ 27.5 billion in early 2020. After Tesla’s record close, Elon ranks seventh on our list of the wealthiest people in the world. With a net worth of $ 70.5 billion, Elon Musk is now richer than Warren Buffet, Larry Ellison and Sergey Brin.
When you understand Elon’s net worth, you should keep in mind that there are two driving forces behind his fortune; Tesla and SpaceX. About 80% of his net worth comes from his stake in Tesla and the rest comes from SpaceX. He owns approximately 22% of the outstanding shares of Tesla and 54% of the private SpaceX.
Below is a graph of Tesla’s share price over the past year. Note the dotted line at the far left of the graph showing that on July 11, 2019, Tesla closed at $ 238.60. Now note today’s closing price of $ 1,544.65. This is an increase of 550%. Incredibly, the stock has increased 260% from the start of the year to date, when most companies have shut down due to the Coronavirus. Look at this table:
As Telsa’s stock soared, so did Elon’s wealth. His net worth has increased by $ 6 billion today alone thanks to the 10% gain you see above.
In the all-time high closing price, Elon Musk’s net worth exceeded $ 70 billion for the first time. She finished technically a little higher than that, at $ 70.5 billion.
This represents an increase of $ 43 billion since January 1, 2020.
With today’s $ 6 billion jump, Elon is positioning himself as the seventh richest person in the world, jumping over Warren Buffett, Larry Ellison and Sergey Brin.
The richest people in the world
At the close of today’s market, here is a current list of the only people on earth richer than Elon:
# 1: Jeff Bezos – $ 190 billion (Amazon)
# 2: Bill Gates – $ 116 billion (diversified investment portfolio that started with Microsoft)
# 3: Mark Zuckerberg – $ 93 billion (current CEO “The Facebook Company”)
# 4: Bernard Arnault – $ 92.5 billion (LVMH – Louis Vuitton, Moet, Hennessy and other brands)
# 5: Steve Ballmer – (Microsoft)
# 6: Larry Page – (Former CEO of Google, now known as Alphabet Inc.)
# 7: Elon Musk – Tesla, SpaceX