Elon Musk becomes world's richest person, total worth to touch $300 billion

Elon Musk has emerged as the richest person in the world. His net worth is nearing $300 billion. Musk is now almost $100 billion richer than Jeff Bezos. Check list of world’s Top 11 richest people in 2021.

Created On: Oct 27, 2021 16:56 IST
Elon Musk world’s richest person, Source: Reuters
Elon Musk world’s richest person, Source: Reuters

Tesla Co-founder and CEO Elon Musk has emerged as the richest person in the world and the first person headed towards a net worth of $300 billion. He added $36 billion to his fortune on October 25, 2021, following an announcement that said Hertz Global Holdings Inc is ordering 100,000 electric vehicles from Tesla. The Bloomberg Billionaires Index reported it as the largest single-day gain in its Index history so far.

At $287 billion net worth, Elon Musk is now almost $100 billion richer than Jeff Bezos who as of now is $196 billion worth. Musk is also $184 billion ahead of Warren Buffet who is currently the 10th richest person in the world. Musk is also $150 billion ahead of Bill Gates who is the 4th richest. The net worth of Musk has surpassed the market cap of the world’s 2nd largest automaker Toyota which is valued at $283 billion.

Also read: Mukesh Ambani joins $100 Billion Club among Jeff Bezos, Elon Musk, Warren Buffet

Elon Musk derives two-thirds of net worth from Tesla, added $119 billion to his fortune

With the announcement by Hertz, the share of Tesla Inc jumped 13 per cent and crossed the market capitalization of $1 trillion on October 25, 2021. Tesla was the first automaker that joined the elite club of trillion-dollar companies. This club includes companies such as Amazon Inc, Apple Inc, Alphabet Inc, and Microsoft Inc. With this surge in Tesla stocks, Musk added $119 billion to his fortune in 2021. The stock prices of Tesla jumped 45 per cent in 2021 as investors are taking a keen interest in electric cars.

Elon Musk had co-founded the electric car company Tesla in 2003. He derives two-thirds of his net worth from Tesla Inc. His 21 per cent stake in Tesla (discounted for loan obligations) comprises the bulk of his fortune.

Elon Musk added $10.6 billion to his fortune from SpaceX

Elon Musk recently added $10.6 billion from his rocket company SpaceX that he had founded in 2002. SpaceX inked an agreement with new and existing investors to sell up to $755 million in stock from insiders at $560 a share thereby increasing the valuation of the company at $100.3 billion.

Also read: Forbes India Rich List 2021: Mukesh Ambani tops list, Gautam Adani second- Check full list of India's richest people

List of world’s richest people in 2021- Top 11

Rank Name Net Worth Country
1 Elon Musk $287 billion US
2 Jeff Bezos $196 billion US
3 Bernard Arnault $165 billion France
4 Bill Gates $134 billion US
5 Larry Page $124 billion US
6 Sergey Brin $120 billion US
7 Mark Zuckerberg $118 billion US
8 Larry Ellison $115 billion US
9 Steve Ballmer $111 billion US
10 Warren Buffet $106 billion US
11 Mukesh Ambani $101 billion India

Source: Bloomberg Billionaires Index

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