RELATED: Elon Musk offers to buy 100% of Twitter for $43 billion
Elon Musk, founder and chief executive of electric vehicle maker Tesla and rocket company SpaceX, is the richest person in the world, with a current net worth of $259 billion, according to the Bloomberg Billionaires Index.
Mr Musk’s enormous fortune far exceeds that of Amazon founder Jeff Bezos – the second richest person in the world, with a net worth of $180 billion – by $79 billion.
The 50-year-old was first crowned the world’s richest person in January this year, when his net worth was assessed at $273.5 billion by Bloomberg, which compared his wealth to that of by John D Rockefeller.
“Mr. Musk has reached the level of wealth, adjusted for inflation, achieved by the wealthiest person in modern history,” Bloomberg said at the time.
However, a combination of volatile stock markets, the Russia-Ukraine crisis and the Covid-19 pandemic has weighed on Mr. Musk’s net worth, which has fallen 4.1% – or $11 billion – since then. the start of the year, according to Bloomberg.
Last week, Mr. Musk was also declared the richest person in the world by Forbes magazine in its annual list of 2022 Global Billionaires with a personal fortune of $219 billion.
the Forbes The list used March 11 stock prices and exchange rates to calculate Mr Musk’s net worth, while the Bloomberg Billionaires Index is updated daily.
“Even after selling billions of dollars worth of Tesla stock late last year and owing taxes on the gains from those sales, Musk is estimated to be $68 billion more than a year ago.” , Forbes said in the report.
Meanwhile, the relative value of Mr Musk’s net worth of $259 billion means he could buy 132 million troy ounces (4.1 million kilograms) of gold, when that equates to 3 .34% of the total wealth of the 500 richest people in the world. and 3.84 million times the median US household income, according to the Bloomberg Billionaires Index.
It also means that Mr. Musk could afford to buy Twitter six times over its current bid of around $43 billion.
On Thursday, Mr. Musk offered to buy 100% of the microblogging social media platform at $54.20 per share.
Its offering price represents a 38% premium to the closing price of Twitter stock on April 1, the last trading day before the public announcement of its 9.2% investment in the company.
Last week, Mr Musk became Twitter’s largest shareholder after it acquired around 73.5 million shares of the social media giant valued at around $3 billion.
The South African-born Canadian-American businessman, who has seven children, owns about 17% of Tesla, according to a February 2021 regulatory filing.
His stake in privately held SpaceX is valued at around $40.3 billion, according to Bloomberg.
Mr Musk has a habit of posting market-moving tweets to drum up interest in his companies, which has drawn ire from the US Securities and Exchange Commission.
In March, Bitcoin, Ether and Dogecoin received a quick boost after he tweeted that he owned the digital tokens and had no plans to sell.
In response, Bitcoin, which had fallen 2.9% before Mr. Musk’s tweet, erased its losses and then fell again. Ether also rose 2.3% before giving up some gains, while Dogecoin rose 3.8%.
In November, shares of Tesla fell 4.5% in early trading in New York, after falling nearly 7% in premarket trading after Mr Musk asked his more than 80 million Twitter followers if he were to sell 10% of his stake in the electric vehicle maker. A clear majority (58%) of the 3.5 million Twitter users who voted said yes.
Mr. Musk made his first millions in the 1990s, when he sold his first company, Zip2, for more than $300 million. He then launched X.com, an online payment system that eventually became PayPal, which he sold to eBay for $1.5 billion in 2022, according to Bloomberg.
Updated: April 15, 2022, 6:05 a.m.