Elon Musk’s net worth grew 524% in 2020

Elon Musk

2020 has not been kind to most people, nor their wallets. However, that can’t be said of some of the world’s richest people like Elon Musk. 

According to research from the Visual Capitalist, the top 15 billionaires in the world saw an average profit growth of 57 per cent between March and December 2020.

The biggest winner was Elon Musk, who saw his net worth grow a staggering 525 per cent over the course of the year. The Tesla CEO started 2020 with ‘just’ US$25 billion. However, Musk now has US$154 billion in the bank.

Those gains are largely because Tesla’s stock price skyrocketed, while his other company SpaceX doubled in market value after some incredibly success in the private space sector.

Other noteworthy winners include Jeff Bezos – whose net worth increased 69 per cent due to increased dependence on e-retail during the pandemic. Mark Zuckerberg also grew his personal fotrune by 86 per cent.

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