Tesla CEO Elon Musk now world’s wealthiest person: US media
Elon Musk, the outspoken and envelope-pushing founder and CEO of Tesla, overtook Amazon boss Jeff Bezos to become the world's wealthiest person, U.S. media reported on Jan. 7.
Musk is a major shareholder of the electric car company and has benefited from Tesla's surging share price over the last year. CNBC estimated his wealth at $185 billion.
The distinction is the latest superlative for the South African-born Musk, who also leads the aerospace venture SpaceX.
Tesla is widely seen as a pacesetter for the car industry as conventional automakers try to catch up in electric autos.
Tesla had a strong 2020 as it ramped up production, broke ground on new factories and reported a series of profitable quarters and was added to the prestigious S&P 500 index.
That enabled shares to rise more than 700 percent during the year, making it more valuable that the world's top carmakers combined.
Musk has hit a stride after stumbling in 2018, when U.S. securities regulators required the Tesla chief to step down as chairman and pay $20 million to settle charges he defrauded investors with false claims on Twitter in August about a possible bid to take the company private, which was quickly aborted.
Musk also was embroiled in a messy public fight over his comments about a British caver, who had mocked the Tesla CEO's offer of a mini-submarine to rescue young soccer players trapped in a cave in Thailand in the summer of 2018.
The caver, Vernon Unsworth, sued Musk after the Tesla chief called him "pedo guy" on social media, but a California jury in December 2019 ruled the remark was not defamation.
Musk put these controversies behind him last year as Tesla significantly boosted output at car factories in California and...
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