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Elon Musk's Wealth Grows Above $100 Billion; Jeff Bezos Tops $200 Billion


Thanks to soaring stock prices of American tech giants, the richest people in the world are getting richer. As of Wednesday's closing price, Elon Musk joined the centi-billionaire club after his net worth grew $5.46 billion in a day to $101 billion. The CEO of Tesla Inc is now the fourth richest in the world, according to Bloomberg's billionaire index.

Elon Musk's Wealth Grows Above $100 Billion; Jeff Bezos Tops $200 Billion

Jeff Bezos continued to top the list as the wealthiest person in the world, but it was the first time his net worth has crossed the $200 billion mark. The CEO and founder of Amazon's wealth rose $5.2 billion on Wednesday to $202 billion.

His ex-wife MacKenzie Scott, who received Amazon stake as part of her divorce settlement with Bezos is poised to become the world's richest woman. On Wednesday, her networth stood at $66.2 billion, just 0.5 billion less than the world's richest woman, L'Oreal SA heiress Francoise Bettencourt Meyers.

Meanwhile Microsoft's Bill Gates and Facebook's Mark Zuckerberg remain the second and third richest in the world, respectively, with their wealth rising to $124 billion and $115 billion.

Musk is followed by French luxury tycoon Bernard Arnault at $86.6 billion and American ace investor Warren Buffet at $81.2 billion.

Asia and India's richest man Mukesh Ambani was at the 7th position on Bloomberg's Billionaire index with a networth of $81.1 billion.

Tech companies boosted the S&P 500 and Nasdaq Composite indexes to new highs for a fourth straight day, buoyed by news that the Federal Reserve is likely to keep short-term interest rates near zero for at least five years.

Story first published: Thursday, August 27, 2020, 10:05 [IST]
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