Elon Musk ends the year as second richest man in the world, gaining $142 billion in 2020

Axel Springer Elon Musk

If your name is Elon Musk, 2020 was a pretty good year when it comes to net worth, as the Tesla CEO posted the biggest personal wealth gain ever.

Starting out the year with a still impressive net worth of $28 billion, Musk was able to quickly climb the list of richest people in the world. Thanks to several performance awards and the +700% increase in the value of Tesla (TSLA) shares, Musk ended the year with an estimated net worth of around $170 billion.


Billionaire list 2020

That impressive wealth gain of $142 billion is the biggest in a single year by an individual, and put him within striking distance of the current richest person in the world, Amazon CEO Jeff Bezos.

With everything Tesla has planned for 2021, Musk’s should easily be able to claim the #1 spot, and fairly soon.

On the first day of the year Tesla announced the beginning of Model Y deliveries in China, setting the price of the electric SUV below that of North America. That resulted in an immediate rush of orders, with some estimating over 100,000 within the first 10 hours.

Other significant milestones scheduled to take place for Tesla in 2021 include:

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Founder and Editor-in-chief of Drive Tesla Canada | Darryn@DriveTeslaCanada.ca Have a Tesla tip? Email tips@driveteslacanada.ca, or DM us on Twitter @DriveTeslaca