Business

Elon Musk Is Only $11 Billion Behind Jeff Bezos; Bill Gates Loses Another Billion

Elon Musk Model 3

Elon Musk has gotten richer just five days into 2021. It was previously reported that the 49-year-old billionaire was only $20 billion behind Amazon CEO Jeff Bezos, and the gap is closing in at only $11 billion as of Jan. 5.

Bezos is worth $186 billion, according to the Bloomberg Billionaires Index, while Musk is skyrocketing at $176 billion. This noteworthy change was a massive comparison to the one made on Jan. 1, 2021. Bezos reportedly lost $3.79 billion YTD (Year to Date) change.

Musk, on the other hand, gained $5.47 billion during the aforesaid period. Moreover, the gap between Musk, who is the world’s second-richest man, and Bill Gates, the world’s third-richest man has also widened as the former richest man in the world lost yet another $1.11 billion YTD change.

Gates is worth $131 billion at the moment, which is a $44 billion difference in comparison to Musk. During the last report, Gates was worth $38 billion less than Musk, but the gap has become significantly bigger since then.

The rapid increase of Musk’s wealth can be attributed to his 20 percent share in the company, according to CNBC’s Aug. 2020 report. With Tesla’s stocks performing extremely well and multiplying in terms of value, Musk’s wealth has also increased along with the company.

Tesla outsold its top three EV competitors combined as of last year, per Electrek. The report suggests that Tesla has a massive 28 percent market share in the EV industry, with Volkswagen and Nissan lagging at just 10 percent each by the first half of 2020. Musk’s electric car company reportedly sold 179,050 cars, while Volkswagen Group sold 64,542 cars, and Nissan managed to sell 65,521 cars.

If remains to be seen whether or not, and when Musk will dethrone Bezos as the world’s richest man. Stay tuned here for the latest business news.

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