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Business News/ Companies / News/  Elon Musk overtakes Jeff Bezos to become world's richest person again
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Elon Musk overtakes Jeff Bezos to become world's richest person again

In the past one-week, the CEO of one of the world's most valuable carmaker has gained around $13 billion in net worth.

File Photo of SpaceX founder and Tesla CEO Elon Musk (REUTERS)Premium
File Photo of SpaceX founder and Tesla CEO Elon Musk (REUTERS)

Tesla's CEO Elon Musk, with a net worth of $213 billion has pipped Amazon's Jeff Bezos to become world's richest person again, according to Bloomberg Billionaires Index.

In the past one-week the Tesla founder has gained around $13 billion in net worth as the share price of electric vehicle maker surged .

The Bloomberg Billionaires Index is a daily ranking of the world’s richest people.

Tesla's shares have been trading lower today by 1.4% at $780.7 on Nasdaq as tech stocks took a pounding on rising US bond yields. Meanwhile, Amazon's stock has fallen over 3%, trading at $3,297.47 on Nasdaq.

Tech-heavy Nasdaq on Tuesday fell over 2%, the most among Wall Street indexes as technology stocks came under pressure.

According to the real-time data of Bloomberg index, Jeff Bezos has a net worth of $197 billion, followed by Bernard Arnault, the chairman of Louis Vuitton (LVMH) with a net worth of $160 billion. Facebook chief Mark Zuckerberg and Bill Gates take fourth and fifth places in the index with a net worth of $132 billion and $128 billion respectively.

Tesla, which is the world's most valuable carmaker market cap of more than $792 billion. The Palo Alto, California-based company sells sedans, sport utility vehicles, and is the state's largest automotive employer. Musk is also the chief executive of SpaceX, a rocket manufacturer tapped by NASA to resupply the space station.

Musk owns about 20% of Tesla, according to an August 2021 regulatory filing. Part of his holdings are used as collateral for personal obligations. A December 2020 filing shows he has roughly $500 million of loans outstanding from three US banks.

SpaceX is valued using an February 2021 funding round that valued the company at $74 billion. A Nov. 15, 2016, filing with the Federal Communications Commission showed Musk owned 54% of the closely held company through a trust.

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Published: 28 Sep 2021, 10:35 PM IST
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