The oil and gas conglomerate and Fifa, the world governing body, sign major sponsorship agreement
Tesla Inc chief and billionaire entrepreneur Elon Musk surpassed Amazon.com Inc’s top boss Jeff Bezos to become the world’s richest man, Bloomberg News reported on Thursday.
Including Thursday's gains in Tesla shares, Musk, 49, had a net worth of more than $188.5 billion, $1.5 billion more than Bezos, the report said.
Musk’s personal wealth has been boosted by last year’s more than eight-fold surge in the shares of Tesla, which became the world’s most valuable carmaker.
He has a 20 per cent stake in the carmaker and about $42 billion of unrealized paper gains on vested stock options, according to the Bloomberg report.
Tesla shares were up as much as 7.4 per cent on Thursday at a record high of $811.61.
The Forbes Billionaires List, however, said Musk still trails Amazon's Bezos by $7.8 billion.
Forbes has a more conservative estimate based on the Tesla stake that he has pledged as a collateral for personal loans. To take that into account, it applies a 25% discount to his shareholding, according to its report in November.
Musk, who co-founded and sold Internet payments company PayPal Holdings Inc, now leads some of the most futuristic companies in the world.
Besides Tesla, he heads rocket company SpaceX and Neuralink, a startup that is developing ultra-high bandwidth brain-machine interfaces to connect the human brain to computers.
He set up the Boring Company to make affordable tunnels below busy city streets for an all-electric public transportation system to avoid the nasty traffic jams in US cities.
The oil and gas conglomerate and Fifa, the world governing body, sign major sponsorship agreement
Toomaj Salehi risks being hanged after the conviction on the Shariah charge of "corruption on Earth" by a Revolutionary Court
Aid groups warn any invasion would add to already-catastrophic conditions for Gaza's 2.4 million people
The American they will face Australia and Serbia on July 15 and July 17 as part of their preparation for the Paris Olympic Games
The leaders emphasise that the deal to release the hostages would bring an immediate and prolonged ceasefire in Gaza
Dubai-based Sumit Augustine has had a philosophical approach towards spending
The regional upswing also defies oil production cutbacks
It's a treatise that would determine the course of your life, not just academically, but as a person too