My1sttoday: The world richest man Elon Musk made $43.3 billion in 9 months, now worth $213 billion.
Data collected from Bloomberg Billionaires Index shows that in 9 months, Elon Musk gained $43.3 billion largely through his Tesla stock holdings, making him the richest person in the world worth $213 billion.
At the peak of Tesla’s popularity, Elon Musk briefly became the world’s richest tycoon, but now he has even more stock options and now owns about 73.5 million Tesla options, which are worth $53 billion.
According to a regulatory filing from August 2021, the African-born billionaire owns about 20% of Tesla. A portion of the holdings is used to cover personal obligations. He has about $500 million of outstanding loans from three banks in the United States, according to a December 2020 filing.
Elon Musk’s fortune is heavily reliant on Tesla, whose market capitalization ended Thursday at $776.8 billion, and SpaceX, valued at $74 billion after a funding round in February.
In recent years, the two men have been on a collision course on two tracks: their net worths and their space ambitions. Musk was worth $24.6 billion in March 2020, nearly $90 billion less than Bezos at the time. In August 2020, Bezos became the first-ever person to be worth $200 billion as Amazon stock soared.
But a remarkable rally in shares of Elon Musk’s electric vehicle company Tesla—up 720% in 2020—helped Musk catch up, and he briefly became the world’s richest person in January 2021. The pair have traded the title back and forth several times this year, as has Bernard Arnault, chief of French luxury goods conglomerate LVMH, in an unprecedented year of jockeying atop the billionaire rankings.
As of 2 p.m. EDT Tuesday, Elon Musk is in first place, worth an estimated $200.7 billion. Jeff Bezos is number two richest, at an estimated $192.5 billion. Bernard Arnault follows in the number three spot, worth $174 billion, according to Forbes’ estimates.