Tesla (TSLA) founder and CEO Elon Musk has now surpassed Jeff Bezos as the richest individual on the planet. According to Bloomberg, his Net Worth is currently close to $190 Billion. He has also climbed to the top spot on this prestigious list faster than anyone before, starting 2020 with only $27 billion.
His remarkable increase in private wealth can be ascribed to the seemingly never-ending rally of Tesla’s share price and his performance-related compensation scheme. Musk does not earn any salary but is entitled to awards in form of Tesla stocks or options when reaching certain milestones. Most of them are directly or indirectly linked to Tesla's market capitalization.
Today, Tesla shares closed at $816 after a daily rise of over 7%. 2020 delivery numbers that beat estimates and the anticipation of a blue Senate, which indicates a more ‘green’ agenda, have acted as catalysts for Tesla's valuation in the last week.
Elon Musk personally has commented on the recent events, saying “How strange” and “Well, back to work” via Twitter, joking that he is currently busier achieving the next milestone than caring about his new title.