New York (CNN Business) – Elon Musk’s personal wealth is now $ 222 billion, widening his gap as the richest person in the world according to the Bloomberg Billionaires Index.
Musk’s personal wealth soared an additional $ 10.6 billion after a secondary share sale by investors, announced last week, valued the space company above $ 100 billion, CNBC reported.
Jeff Bezos, founder of Amazon, is behind Musk with a net worth of $ 191.6 billion. Musk tweeted a second-place medal to Bezos earlier today.
— Elon Musk (@elonmusk) October 11, 2021
Thanks to both Musk’s shares in Tesla and his majority stake in the private company SpaceX, of which he is CEO, Musk has accumulated great wealth.
Musk has made $ 8.6 billion since the market close on Friday and more than $ 52 billion so far this year, according to the Bloomberg Billionaires Index.
Tesla shares are also on the rise, as they rebound from a difficult year. They are up 13% year-to-date, far less than their gain of 743% in 2020. Still, it’s a big improvement since they were down 22% on the year in May.
Musk received $ 0 pay in 2020, according to a company report, but he did receive stock options during the year that are now worth $ 22 billion. And those options are worth a lot more because of the rising stock price.
Musk and Bezos, the two richest men on the planet, are in a multi-million dollar space race. Even before he launched the first Inspiration4 space sightseeing mission in September, Musk’s SpaceX landed huge contracts from NASA and the US military and flew the most powerful rocket in operation.
Bezos, who founded Blue Origin in 2000, and Virgin billionaire owner Richard Branson took to space last summer.
A June ProPublica report found that some billionaires, such as Elon Musk, Bill Gates and Jeff Bezos, pay minimal income tax compared to the vast majority of Americans, despite their immense wealth. Nothing revealed in the report was illegal.
Meanwhile, the US economy continues to recover from the covid-19 recession. Median household income fell 2.9% in 2020 to $ 67,521, the first statistically significant decline since 2011. The September employment report marked the second month in a row that the economy added far less. jobs than expected.
– Chris Isidore and Matt Egan contributed to this report.