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Elon Musk Is Officially A Centibillionaire

by : Emma Rosemurgey on : 27 Aug 2020 13:59
Elon Musk Is Officially A CentibillionaireElon Musk Is Officially A CentibillionairePA Images

While people all over the world grapple with the economic fallout of the pandemic, the world’s richest elite are continuing to rake in the coins, as Tesla CEO Elon Musk joins the centbillionaires club.

As of Wednesday, August 26, Musk’s wealth officially surpassed $100 billion after shares of the electric car company soared.

Meanwhile, Amazon boss Jeff Bezos’s net worth has increased to an eye-watering record of $200 billion, cementing his place as the richest person in the world.

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Elon MuskElon MuskPA Images

Sadly, the gap between the wealthy and the poor has continued to grow during the pandemic, with many of the richest people in the world seeing their wealth blossom since the beginning of the year.

Bloomberg reports that the 500 richest people in the world have gained a combined sum of $809 billion since January, $87 billion of it belonging to Bezos.

Meanwhile, as the demand for electric vehicles continues to grow, Tesla stocks have soared 400% this year, with Musk owning 40.4 million shares, amounting to an impressive $87 billion. This is an increase of the 38.7 million shares he owned at the beginning of the year, which were worth $16.2 billion at the time.

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Amazon boss Jeff BezosAmazon boss Jeff BezosPA Images

With his new centbillionaire status, Musk has joined an elite club, alongside only Bezos, Microsoft mogul Bill Gates, who is worth $124 billion, and Facebook founder Mark Zuckerberg, who is worth $115 billion.

Meanwhile, Musk, who is famed for his company Tesla, which makes electric vehicles and parts, and SpaceX, which builds spacecrafts, continues to grow his empire.

Yesterday, August 26, the businessman revealed his controversial ‘brain chip’ could be coming to market a lot sooner than anyone anticipated.

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Just over a month ago, Musk announced his newest startup, Neuralink, was in the process of developing a brain-computer interface that allegedly has a life-changing range of benefits – including the ability to stream music straight into your brain.

Tomorrow, August 28, the company, which has already been handed $158 million in funding, will demonstrate a working device at around 6pm ET (11pm BST).

It comes after Musk promised the world a ‘progress report’ on August 28, when he tweeted, ‘AI symbiosis while u wait,’ back in July.

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In his announcement yesterday, Musk told his followers the update will include the unveiling of a second-generation robot designed to attach the company’s technology to the brain, as well as a demo of neurons ‘firing in real-time’. There will also be an update on the status of human trials in 2020.

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Emma Rosemurgey

Emma Rosemurgey is an NCTJ trained Journalist who started her career by producing The Royal Rosemurgey newspaper in 2004, which kept her family up to date with the goings on of her sleepy north east village. She graduated from the University of Central Lancashire in Preston and started her career in regional newspapers before joining Tyla (formerly Pretty 52) in 2017, and progressing onto UNILAD in 2019.

Topics: News, Centbillionaire, Elon Musk, Jeff Bezos, Neuralink, Now, Telsa

Credits

Bloomberg
  1. Bloomberg

    Musk's wealth exceeds $100 billion