Jeff Bezos Tops Forbes Billionaire List, Elon Musk Jumps to 2nd Spot

3 min read | April 07, 2021 01:00 AM PDT | By Team Kalkine Media

Jeff Bezos

The ecommerce giant’s founder has a net worth of US$177 billion, up US$64 billion from a year ago, according to Forbes.

Amazon started as an online bookseller and expanded into multiple businesses including ecommerce, could computing, digital streaming and artificial intelligence. Amazon has also launched its online pharmacy platform recently with the acquisition of PillPack Inc.

Bezos owns 14.06 percent stake in Amazon, which he founded in 1994. As of April 6, Amazon has a market capitalization of US$1.623 trillion. In 2020, Amazon saw its share price jumped over 76 percent. The stock closed at US$3,256.93 on Dec. 31, 2020.

Image Source: EODHD/Others, Amazon.com share price in 2 years

The Seattle-based company’s net sales totaled US$386.1 billion in 2020, up 38 percent from 2019. Amazon's net income grew to US$21.33 billion in 2020 from US$11.59 billion in 2019.

Meanwhile, Bezos has announced his plans to step down as CEO of Amazon during the third quarter of 2021. Instead, he will become the company’s executive chairman. Andy Jassy, the current Amazon Web Services CEO, will step into Bezos’ position.

Apart from Amazon, Bezos owns the American daily Washington Post and aerospace company Blue Origin.

Elon Musk

According to Forbes, Musk jumped to the second position in its billionaire’s list from the 31^st position. His net worth now totals US$151 billion, US$126.4 billion more than what he had a year ago.

Musk’s compensation at Tesla is determined by the California-based company’s 2018 CEO Performance Award, which is based on achieving market capitalization and operational milestones.

Musk currently owns 17.76 percent stake in the company. Tesla shares, which were added to the S&P 500 index in December 2020, skyrocketed over 700 percent in the last one year.

As of April 6, the electric carmaker has a market capitalization of US$663.85 billion. The shares are trading at US$691.65.

Image Source: EODHD/Others, Tesla Inc. share price in 2 years

In 2020, Tesla reported a net income of US$721 million, against the net loss of US$862 million in the previous year. Total revenue during the year grew 28% year over year to $31.54 billion.

Musk also owns rocket and spacecraft company SpaceX, which is reportedly valued at US$74 billion.

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