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  • Updated: January 09, 2021

Elon Musk: World's Richest Man

Elon Musk: World's Richest Man

Chief designer of SpaceX, Elon Musk has overtaken Amazon founder, Jeff Bezos as the richest person in the world with a net worth of $194.5 billion, about $9.5 billion more than Bezos, who has held the position since 2017.

Tesla’s 7.9% rise in shares lifted the value of Musk’s stock option by $10 billion which took his net worth to about $194.8 billion.

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As Tesla’s stock soared ahead of its inclusion in the S&P 500 Index on December 21, Musk surpassed Facebook CEO, Mark Zuckerberg (worth $98.2 billion) to become the world’s fourth-richest person in early November 2020, then overtook Microsoft co-founder, Bill Gates (worth $121.9 billion) for the number three spot.

Facts about Elon Musk

Elon Reeve Musk is a South African-born business magnate, engineer and industrial designer, who was born on June 28, 1971.

He is the founder, CEO, CTO and chief designer of SpaceX; early investor, CEO and product architect of Tesla, Inc.; founder of The Boring Company; co-founder of Neuralink; and co-founder and initial co-chairman of OpenAI. He was elected a Fellow of the Royal Society (FRS) in 2018. Also that year, he was ranked 25th on the Forbes list of The World's Most Powerful People and was ranked joint-first on the Forbes list of the Most Innovative Leaders of 2019.

  • 1995 – Musk co-founds Zip2 Corp., a company that develops online city guides.
  • 1999 –Sells Zip2 to Compaq for $307 million.
  • March 1999 – Co-founds X.com, an online banking and financial services company.
  • March 2000 – X.com merges with Confinity and is renamed PayPal in 2001.
  • June 2002 – Musk founds Exploration Technologies Corporation (SpaceX), with the intention of decreasing the cost and increasing the accessibility of space travel.
  • October 2002 – PayPal is acquired by eBay in a $1.5 billion deal. Musk pockets $165 million.
  • February 2004 – Musk joins Tesla as chairman of the board and oversees the initial round of investment funding.
  • October 2008 – Becomes CEO and product architect of Tesla.
  • November 2013 - Named Fortune's Businessperson of the Year.
  • December 11, 2015 – Announces plans to help fund a non-profit artificial intelligence research centre called OpenAI.
  • August 7, 2018 – Musk announces, via Twitter, that he is considering taking Tesla private. He claims that funding has been secured.
  • August 24, 2018 – In a statement posted on the Tesla website, Musk says he intends to keep the company public after consulting with the board of directors.
  • May 30, 2020 – SpaceX and NASA launch Falcon 9, the first launch from US soil since 2011.
  • January 2021 – Musk became the richest person in the world.

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