For a long time, the title of Richest Man in the World was passed back and forth between Bill Gates (co-founder of Microsoft) and Warren Buffet (billionaire investor). In 2017, Jeff Bezos (founder and CEO of Amazon) took the title briefly and has had the title most recently. It was just announced that Elon Musk has overtaken Jeff Bezos to become the Richest Man in the World.
The numbers are mind-boggling. Elon Musk has had the fastest rise to the top in history. He started 2020 with a net worth of about $27 billion and thanks to Tesla's rocketing share price his net worth is $185 billion.
Musk has gained more wealth over the past 12 months than Bil Gates' entire net worth of $132 billion.
Let's put these numbers in perspective. What's the difference between a millionaire and a billionaire?
The numbers are mind-boggling. Elon Musk has had the fastest rise to the top in history. He started 2020 with a net worth of about $27 billion and thanks to Tesla's rocketing share price his net worth is $185 billion.
Musk has gained more wealth over the past 12 months than Bil Gates' entire net worth of $132 billion.
Let's put these numbers in perspective. What's the difference between a millionaire and a billionaire?
- One million seconds is 11 days.
- One billion seconds is 31.6 years (11,574 days)
The difference between one million dollars and one billion dollars is the same as the difference between 11 days and 31 years!
Of course, this isn't a giant vault of money like the one Scrooge McDuck swims around in. This wealth is on paper and can fluctuate wildly because it is largely based on equities.
