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The Tesla and SpaceX CEO was one of the biggest beneficiaries from the Covid-19 pandemic, as his net worth sat at just $26.6billion at the beginning of 2020.
In 2020, Musk’s wealth grew by over $110billion, which is the record for anyone in the history of Forbes tracking such numbers.
Musk gained another $90billion in 2021, as he knocked Bezos off the top of the Forbes rich list to begin the year.
In the latest Forbes list, Elon Musk, 50, increased his net worth to $282billion, which is over $100billion richer than Amazon founder Jeff Bezos
Amazon founder Jeff Bezos, whose net worth is $183.6billion, as been lapped by Musk on the Forbes rich list
The new Twitter board member saw his wealth peak at around $340.4billion when shares in Tesla hit record highs in November 2021.
The 10 richest people on earth
1. Elon Musk, $282billion
2. Jeff Bezos, $183.6billion
3. Bernard Arnault, $167.4billion
4. Bill Gates, $134.2billion
5. Warren Buffet, $127.3billion
6. Larry Page, $113.4billion
7. Larry Ellison, $113billion
8. Gautam Adani, $112.9billion
9. Sergey Brin, $109billion
10. Mukesh Ambani, $99.6billion
Musk is now $115billion richer than LVMH CEO Bernard Arnault, the third richest man in the world with a net worth of $167.4billion.
He’s also well past the numbers for Microsoft founders Bill Gates ($134.2billion) and Steve Ballmer ($97billion).
In April 2012, Musk signed the Giving Pledge and committed to donate the majority of his wealth to address some of society’s most pressing problems.
That said, with his current wealth, he could theoretically buy all 32 National Football League teams – currently worth over $112billion – and still have scratch to buy all 30 NBA teams at about $61billion, all 30 Major League Baseball teams at $54billion and all 32 National Hockey League teams at around $26.7billion.
The native South African is worth only about $35 billion less than the gross domestic product of his home country, whose GDP is $335 billion, the World Bank says.
The SpaceX pioneer’s net worth exceeds the GDPs of Colombia, FInland. Pakistan, Chile and Portugal.
He bought nearly 73.5 million shares, a document filed with the US Securities and Exchange Commission shows.
His passive stake in the company is valued at up to $2.9billion based on the stock’s Friday close, and the estimated cost of the deal was $2.4billion, according to the stock price on March 14 when he bought the shares.
The news prompted Twitter’s stock to soar by more than 26 per cent in pre-market trade before Wall Street opened on Monday, meaning his shares are now worth around $3.6billion, earning him an interested $1.2billion in three weeks.
Musk is also worth significantly more than the fortunes of former Microsoft founders Bill Gates and Steve Ballmer combined
Gates has a net worth of $134.2 billion, while Balmer’s net worth stands at $97 billion