Elon Musk becomes richest person in the world as wealth reaches £136bn

It looks like 2021 has got off to a great start for the Tesla and SpaceX chief who has now taken over Amazons Jeff Bezos to become the worlds richest person. The Tesla entrepreneur rose to the top spot after the share price increased by a whopping 743% last year and has now hit a market value of £516bn for the first time. It was only at the beginning of 2020 that Musk was the 35th richest person in the world but 2020 was not only just his most profitable year, it was also possibly the fastest bout of wealth creation in history.

Will Tesla continue to make more profits than just about the whole motor industry combined because it seems this may have to be the case especially if such value has been placed. With the demand for electric cars soaring, I guess the only thing we can do is wait and see. If his dream to “establish a self-sustaining city on Mars to ensure continuation of life” is anything to go by then please know that this is a man who has more up his sleeve. Tesla and SpaceX is not the only dream.