Elon Musk
Elon Musk

Elon Musk is the current richest personality on Earth. Before him, it was Jeff Bezos, the CEO of Amazon.

The net worth of the CEO and the founder of SpaceX, Elon Musk, is over 185 billion USD. According to the reports of the media, the reason for his success is because of the constant increase in the stock price of his Tesla. Tesla is a company that produces electric cars.

The net worth of the former richest man, Jeff Bezos, is 184 billion USD as per the sources. Bezos is the owner of two giant companies. Blue Origin, the spaceflight outfit company is owned by him along with the online shopping platform, Amazon. He had been the richest man on Earth since the year 2017.

Elon Musk’s Short Journey To the Top

Elon Musk began the year 2020 with a net worth of 27 billion USD. According to a statement revealed by a source, the surge of the wealth of Elon Musk has been a dramatic one. His financial rise to the top of the list of the Earth’s richest has been the fastest one in history. The financial condition of the world-famous entrepreneur was in very bad shape, one and a half years back. There had been a rapid cash burn of Tesla, owned by Elon Musk. Not only this, the personal leverage of Musk against the stock of the company, too was showing negative signs.

The sources also mentioned the main reasons for the quick economic upheaval of Elon Musk. They said that it was the pay package of Musk, which was a generous one. And the stock price of Tesla that increased by over ninefold in the year 2019.

SpaceX, another major company of Musk, is not a publicly-traded one. according to Musk, he founded the company in 2002 in order to contribute to humanity in colonizing Mars.