ALL NEWS

Elon Musk is close to overtaking Jeff Bezos the as world’s richest person

Jan 7, 2021, 7:44 AM
Elon Musk is close to overtaking Jeff Bezos as the world's richest person.
Credit:	Getty Images...
Elon Musk is close to overtaking Jeff Bezos as the world's richest person. Credit: Getty Images

    (CNN) — Elon Musk is getting close to grabbing the title of world’s richest person from Amazon CEO Jeff Bezos.

The Bloomberg real-time billionaire tracker now has the two multi-billionaires within $3 billion of each other, with Bezos at $184 billion and Musk at $181 billion. Bill Gates is now a distant third at $132 billion, according to Bloomberg.

The Forbes real time tracker still has them $18 billion apart, after Bezos lost $4.3 billion in the value of his Amazon stock Wednesday to fall to $183.4 billion on concerns that Democratic control of the Senate could mean greater scrutiny and regulation of Big Tech.

Another gain in Tesla shares lifted Musk’s net worth by $4.1 billion to $165.4 billion, according to Forbes’ calculations. But Forbes does not appear to be giving Musk credit for the value of options he received in 2020 to buy an additional 33.6 million shares of Tesla.

Musk is also the primary shareholder of SpaceX, another company of which he is CEO, although SpaceX is privately held, so its value does not fluctuate as much as the value of Tesla.

Bezos’ stake in Amazon shares increased by $75 billion in 2020, to $173.3 billion, given the huge increase in sales driven by the Covid-19 pandemic.

But that was nothing compared to Musk’s holdings in Tesla. The 170 million shares of Tesla he already owns increased in value by $106 billion during 2020, as shares shot up 743% during the course of the year.

The value of his stock options he held at the start of the year increased by $14.2 billion, while the new options he received during the course of the year as part of his pay package had a value of $21.5 billion at year’s end.

Musk caught Gates for the title of the world’s second-richest person in late November, but Tesla shares have increased in value by 45% since then, lifting Musk’s net worth by $53 billion over the past couple months.

Tesla shares are off to a good start in 2021, rising another $50.31 a share, or 7%, since the start of this year. That has lifted Musk’s Tesla holdings and options by another $11 billion this year. Meanwhile, Amazon’s stock lost nearly 4% of its value.

Musk is set to qualify for options to buy another 16.9 million shares of Tesla early this year, according to company filings. Those options would be worth $11.6 billion at the shares’ current value, after taking into account the exercise price.

Bezos does not have any Amazon stock options, only the 53.2 million shares he has as the company’s founder. He would have had more if he hadn’t given 19.7 million shares to his ex-wife, MacKenzie Scott, in his divorce. Bezos has also sold off or has given away shares as part of his charitable donations. Musk has never disposed of any Tesla shares.

It’s not just Bezos who Musk is close to catching. ExxonMobil, the United States’ most valuable oil company, has a market value of $188.6 billion. So Musk, who is the leading advocate of switching drivers around the world from gas and diesel to electric vehicles, is close to being worth as much as one of America’s largest oil companies.

The-CNN-Wire
™ & © 2021 Cable News Network, Inc., a WarnerMedia Company. All rights reserved.

Today’s Top Stories

All News

Attorney Sam Meziani from the law firm of Goebel Anderson speaks as he joins with the family of Zan...
Mark Jackson

Family of Zane James speaks out after settlement reached with Cottonwood Heights

The family of Zane James, who died after a police altercation in 2018, reached a settlement with the city of Cottonwood Heights over the death.
10 hours ago
The community built a small memorial in front of Macie Hill's family home. Hill passed away after a...
Amie Schaeffer

GoFundMe started to remember 8-year-old girl who died in Kaysville parade

The Kaysville City Fourth of July parade turned tragic when Macie Hill was hit by a vehicle. She reportedly died from her injuries.
1 day ago
Highland Drive Closed...
Heather Kelly

Highland Drive open after closing for hours due to fatal crash involving Coke truck

A crash left Highland Drive closed between 4500 and 4600 South on Tuesday morning. The crash left a 74-year-old woman dead.
1 day ago
A brush fire started in Saratoga Springs last night. Photo Credit: Saratoga Springs Fire Department...
Devin Oldroyd

Fire officials say aerial firework caused brush fire in Saratoga Springs

An aerial firework caused a brush fire in Saratoga Springs Sunday night.
2 days ago
FILE - Fireworks explode over Baltimore's Inner Harbor during the Ports America Chesapeake 4th of J...
BOBBY CAINA CALVAN ASSOCIATED PRESS

A turbulent US this July 4, but many see cause to celebrate

July 4 has arrived as many citizens struggle to find a reason to celebrate. Yet many also see cause for celebration, including President Joe Biden.
2 days ago
The Deuel Creek Fire started on the hillside above Centerville late Sunday night....
Devin Oldroyd

Deuel Creek Fire starts in Centerville overnight, evacuation order lifted

The Deuel Creek Fire began late Sunday night in Centerville.
2 days ago

Sponsored Articles

Tax Harassment...
Jordan Wilcox

The best strategies for dealing with IRS tax harassment | You have options!

Learn how to deal with IRS tax harassment. This guide will teach you how to stop IRS phone calls and letters, and how to handle an IRS audit.
spend a day at Bear Lake...
Bear Lake Convention and Visitors Bureau

You’ll love spending the day at Bear Lake | How to spend a day at Bear Lake

Bear Lake is a place that needs to be experienced. Spend a day at Bear Lake.
Curb Appeal...
Price's Guaranteed Doors

How to have the best of both worlds for your house | Home security and curb appeal

Protect your home and improve its curb appeal with the latest security solutions like beautiful garage doors and increased security systems.
Prescription opioids can be disposed of during National Prescription Take Back Day...
Know Your Script

Prescription opioid misuse | How to protect your family from the opioid epidemic

Studies have shown that prescription opioid misuse has increased since COVID-19. So what do you need to know about these opioids?
national heart month...
Intermountain Healthcare

National Heart Month: 5 Lifestyle Changes to Make Today to Keep You Heart Healthy

Heart disease is the leading cause of death for both men and women. One person dies every 36 seconds in the United States from cardiovascular disease
Joseph Smith Memorial Building...
Temple Square

The Joseph Smith Memorial Building is an icon of Salt Lake City | Why hosting an event at this beautiful location will make you a hero this year

Here's why hosting an event at the iconic Joseph Smith Memorial Building in downtown Salt Lake City will make you a hero this year.
Elon Musk is close to overtaking Jeff Bezos the as world’s richest person