Elon Musk becomes world’s richest person as his net worth hits $230 billion

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Elon Musk’s net worth has reached $230 billion, making him the world’s richest man, when shares in Space X soared by 33% and sold for more than $100 billion, despite the fact that he just joined Forbes’ top ten billionaire list in the middle of last year.

The Tesla CEO has now surpassed Amazon founder Jeff Bezos as the world’s wealthiest individual, and is now worth more than Bill Gates and Warren Buffett combined.

After a $100 billion secondary selling of SpaceX shares on October 8, the Tesla creator watched his and his company’s fortune soar.

The business struck a deal with both new and old investors.

Multiple sources familiar with the matter told CNBC that the business has reached an agreement with both new and current investors to sell up to $755 million in SpaceX stock from insiders for $560 per share.

After first presenting the transaction to investors in February, when SpaceX’s valuation was at $74 billion at 419.19 a share, the new share price has increased by 33 percent, bringing the company’s worth to $100.3 billion.

According to the source, the initial round of sales garnered over $1.2 billion.

Elon Musk’s fortune grew after a share sale at SpaceX earlier this month, as well as the stock’s continued good performance.

Elon Musk becomes world’s richest person as his net worth hits $230 billion
Elon Musk becomes world’s richest person as his net worth hits $230 billion

The company’s new enhanced worth qualifies it as a private ‘centicorn’ or ‘hectocorn,’ which are firms with a valuation of $1 billion unicorns multiplied 100 times.

The Forbes Top Ten Billionaires List is updated in real time.

1. Elon Musk is worth $230 billion dollars.

2. Jeff Bezos ($197 billion) is the second richest person in the world.

3. $185 billion — Bernard Arnault and his family

4. Bill Gates is the fourth richest person in the world, with a net worth of $132 billion.

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5. Mark Zuckerberg is the fifth richest person in the world, with a net worth of $116 billion.

6. Larry Ellison is the sixth richest person in the world, with a net worth of $125 billion.

7. Larry Page is the seventh richest person in the world, with a net worth of $120.9 billion.

8. Sergey Brin is the eighth richest person in the world, with a net worth of $116.2 billion.

9. Warren Buffett is the ninth richest person in the world, with a net worth of $103.1 billion.

10. Mukesh Ambani is tenth on the list with a net worth of $102.2 billion.

As of October 17, 2021, according to Forbes’ Real-Time Billionaires List

According to CB Insights, SpaceX is now the world’s second-most valuable private business, trailing only China’s Bytedance.

That’s a big cry from little over a year ago, when Musk didn’t even make Forbes’ top ten billionaires list, which was dominated by Amazon’s Jeff Bezos, who topped the list with a net worth of $113 billion at the time.

After Blue Origin and Amazon founder Jeff Bezos offered some motivating remarks about his firm, the SpaceX creator was eager to gloat about gaining the number one spot on the wealthy list, tweeting a second place medal to Bezos.

Bezos previously held the title of world’s richest person, with $197.8 billion as of 2021, following a surge in online sales due to the epidemic and lockdowns.

Musk said in April that he will give away $150 million, including a $100 million prize in a carbon removal competition, in which the billionaire challenged competitors to come up with practical methods for lowering CO2 emissions at scale in a “durable and sustainable” manner.

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The tournament began on Earth Day and will last four years, finishing on April 22, 2025, which is Earth Day 2025.

Musk’s net worth has grown by approximately $60 billion since he began the competition in April, according to Bloomberg, with the SpaceX acquisition alone adding $11 billion to Musk’s net worth.

In the early 2000s, the 50-year-old co-founded PayPal before going on to establish SpaceX and Tesla Motors.

Musk has surpassed Jeff Bezos (pictured) as the world’s richest person, with the SpaceX founder’s net worth reaching $230 billion following a stock transaction earlier this month.

Musk’s personal wealth has risen as a result of the growing values of Tesla and SpaceX, with te latter raising billions to support two capital-intensive projects, Starlink and Starship.

Starlink is a SpaceX-operated satellite broadband network that provides satellite Internet connectivity to the majority of the planet, whereas Starship is a totally reusable launch vehicle presently in development.

To far, SpaceX has launched 1,740 Starlink satellites, which are now delivering an internet network to over 100,000 customers in 14 countries who are enrolled in the project’s public beta for $99 per month.

Musk was not shy about outdoing Bezos, even tweeting a’second place’ medal underneath his own tweet following the Blue Origin and Amazon founder.

On October 10, Bezos sent some motivating remarks to his Twitter followers (pictured)

Musk’s fortune has grown by approximately $60 billion since April, according to Bloomberg, with the SpaceX transaction alone adding $11 billion to Musk’s staggering fortune.

Credit: News Colony

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