While this Covid 19 pandemic affected many businesses all over the world, the year has been gracious for billionaire Elon Musk.
According to recent reports, Elon Musk has crossed Mark Zuckerberg to become world's third richest man as his net worth increased to $115.4 billion.
The Tesla and SpaceX CEO on Monday saw his net worth reach $115.4 billion, according to Bloomberg Billionaires Index. He has surpassed Facebook CEO Mark Zuckerberg who has worth $110.8 billion, and there is Microsoft cofounder Bill Gates at 2nd position with net worth of $125 billion. and Amazon CEO Jeff Bezos at no. 1 whose fortune has surpassed $200 billion.
Musk is also the founder of several other companies including SpaceX, The Boring Company, Hyperloop and OpenAI
Musk's pay package, which was approved by Tesla shareholders in 2018, doesn't pay him any salary or cash bonuses. Instead, the CEO gets paid in millions of stock options, worth billions of dollars. He has received two multi-billion-dollar payouts as the company hit certain profit and stock price thresholds, and he is due to receive another soon.
World's richest woman
The year has been good for Jeff Bezos' ex-wife MacKenzie Scott too, as she climbed the ranks to become world's richest woman after she received a 4 per cent stake in Amazon.com Inc. as part of her divorce from founder Bezos. Now, her net worth is $66.4 billion.
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Musk doesn't appear to spend as lavishly as other billionaire CEOs, with his LA real estate portfolio appearing to be his biggest personal expenditure. He has vowed to donate the majority of his wealth in his lifetime or in his will