It’s Official – Elon Musk Is the Richest Person in the World

It's Official - Elon Musk Is the Richest Person in the World

(RepublicanReport.com) – The title of “world’s richest person” has been held by some of the most influential figures in history. In recent times, champions of the technology industry have dominated the race. Microsoft founder Bill Gates was the wealthiest person until 2017, when Amazon head Jeff Bezos overtook him. As of Thursday, January 7, there’s a new top dog: Elon Musk.

Tesla, the electric car company of which Musk is the CEO, has been on a massive stock-price boom for over a year. Musk owns 18% of the company’s shares, and has seen his wealth grow enormously over this period. As of Thursday, his net worth is estimated to be in excess of $188 billion. Jeff Bezos is thought to be worth over $1 billion less than Musk at the time of this writing.

Tesla is a market leader when it comes to electric motor technology. Though the company has only recently become profitable, experts believe it will have a huge role to play in the shift away from fossil-fuel-powered vehicles in years to come.

Foray Into Space

Along with Tesla, Musk is the founder and CEO of SpaceX, an enterprise that aims to develop reusable rockets to commercialize space travel. His stake in the company is reportedly worth close to $19 billion. He was also a key figure in the development of the online payment solutions provider PayPal before it was sold to eBay.

Musk is renowned for his quirky personality. He reacted to his new status in typically Musk-esque fashion with the following tweet.

Whenever a story like this breaks, there’s always a certain cohort who uses it as an illustration of the perceived excesses of capitalism and the unfairness of modern life. How, they ask, can Elon Musk be allowed to amass billions and billions of dollars while so many can barely afford to feed themselves?

Of course, this ignores the huge value Elon Musk is providing to our society. At a time when environmental concerns are more pressing than ever, his electric motor technology is set to play a huge role in our future. Only time will tell what he and his organizations have in store for us next.

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