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Elon Musk has overtaken Jeff Bezos as the richest person in the world, with a net worth of more than USD185 billion, due to the rise of his electric car company Tesla’s share price.
The billionaire hits the record of the fastest rise to the top of rich list in history. It is a powerful financial turnaround, Tesla’s accelerated cash burn and his personal leverage against the company’s stock.
Musk was just the top 50 richest people in the list, and starting 2020, he was only worth about USD27 billion.
In July, Musk became the seventh richest person who surpassed Warren Buffett and in November, he overtook Bill Gates to become the second richest person.
Tesla’s market value has grown over USD760 billion which makes the company worth more than the other well-known car company such as Toyota, Volkswagen, Hyundai, and Ford combined.
