FeaturedHighlightTrending Story

Elon Musk outstrips Jeff Bezos as world’s wealthiest person

122

 

Elon Musk, the outspoken and envelope-pushing chief executive of Tesla, overtook Amazon boss Jeff Bezos to become the world’s wealthiest person, US media reported Thursday.

Musk is a major shareholder of the electric car company and has benefited from Tesla’s surging share price over the last year. CNBC estimated Musk’s wealth at $185 billion.

The distinction is the latest superlative for the South African-born Musk, who leads the aerospace venture SpaceX in addition to Tesla, which has become a pacesetter for the car industry as conventional automakers try to catch up to Tesla’s lead in electric autos.

Tesla had a strong 2020 as it ramped up auto production, broke ground on new factories and reported a series of profitable quarters that enabled shares to rise more than 700 percent during the year as it was added to the prestigious S&P 500 index.

Musk has hit a stride after stumbling in 2018, when US securities regulators required the Tesla chief to step down as chairman and pay $20 million to settle charges he defrauded investors with false claims on Twitter in August about a possible bid to take the company private, which was quickly aborted.

Shares of Tesla surged 5.9 percent to $800.43 in late morning trading, lifting the company’s market capitalization above $750 billion.

 

Leave a comment

Related Articles

Jose Peseiro trolled online for playing injured Ola Aina in AFCON final

Super Eagles coach Jose Peseiro got brutally trolled online for playing Ola...

AFCON: Nigeria’s performance was built on collective efforts – FG

The Minister of Sports Development, Sen. John Owan Enoh, has attributed Nigeria’s...

Only 5% of Nigerians have above N500,000 in their bank accounts – FG

The Finance Minister and Coordinating Minister of the Economy, Mr. Wale Edun,...

19,000 children from 427 orphanage homes across Nigeria to benefit from Davido’s N300m largesse

In a significant move aimed at bolstering the welfare of vulnerable children...

Deceased Ondo Gov. Akeredolu interred in Owo amid pomp as Pres. Tinubu extols him

Ondo State Governor, Mr Oluwarotimi Odunayo Akeredolu, who died in office in...

Ex-NBA President, Olumide Akpata, emerges Edo LP guber candidate

Former President of the Nigerian Bar Association and Edo State governorship aspirant,...

Father drowns, rescuing his underage son, who falls into well

In a last-minute effort to save his son, who mistakenly fell into...

Tinubu names Gbenga Alade as AMCON MD/CEO

President Bola Tinubu has appointed a new management team for the Asset...

Port Harcourt refinery to start producing 2.2m litres of diesel, petrol daily soon – FG

The Federal Government has announced that the Port-Harcourt Refinery is gearing up...

ECOWAS faces most difficult challenges since its formation – Ejime

A public affairs analyst, Mr. Paul Ejime, has lamented that the Economic...

Economic hardship: Lagos Govt. employees except teachers to work three days a week – Sanwo-Olu

Civil servants from grade levels 1 to 14 will start working three...

Tinted glass permit: Police to train enforcement officers, ICT analysts on issuance

In a bid to improve national security and curb criminal activities facilitated...

Senate Confirms Cardoso, Yuguda, 10 Others As Chair, MPC Members

The Senate has confirmed the appointments of the governor of the Central...

Breaking: Nigeria’s GDP grew by 3.46% in Q4 2023 – NBS

The National Bureau of Statistics (NBS) has announced growth in Nigeria’s gross...

FG stops exportation of cooking gas to crash price

The Federal Government, in its bid to crash the price of cooking...

Ex-Brazilian star Dani Alves jailed four years for rape

Ex-Brazilian star Dani Alves has been sentenced to four and a half...

Economic hardship: Nigerian military warns against calls for coup

The Nigerian military authorities have issued a stern warning to those calling...

Just in: After 26-month self-exile, Yoruba nation activist, Sunday Igboho returns to Nigeria

Chief Sunday Adeyemo, also referred to as Sunday Igboho, a foremost Yoruba...

Just in: 86 people murdered daily in South Africa — Police Minister

At least 86 people are killed daily in South Africa, according to...

Appointment: Kemi Nandap is the new Comptroller-General of Nigeria Immigration Service

The Nigeria Immigration Service (NIS) has a new Comptroller-General. She is Deputy...