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Elon Musk is the World’s Richest Person in 2021

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Elon Musk is the Worlds Richest Person in 2021

Elon Musk is the Worlds Richest Person in 2021

The Briefing

  • Just six days into the new year, Elon Musk became the world’s richest person in 2021
  • His personal fortune is $188 billion, up 548% from one year ago
  • Tesla shares are up 1,030% since the market bottom in 2020
  • Elon Musk’s rocketing net worth may be the fastest accumulation of wealth in history

Elon Musk is the World’s Richest Person in 2021

2021 has been touted as a year of change.

And as far the pecking order of global wealth goes, the new year has already delivered. Just six days in, Elon Musk had already lapped Jeff Bezos to become the world’s richest person in 2021 with a personal net worth of $188 billion.

How did this happen so fast?

Since the stock market bottom in March 2020, Tesla shares have skyrocketed by 1,030% to $816 per share. Elon Musk happens to own about 241 million of those shares, putting his wealth accumulation into overdrive in a short period of time.

Pedal to the Medal

The boom in wealth has been so prolific for Musk that he’s left other billionaires in the dust.

One year ago, he wouldn’t have cracked the top 20 list—but with a surge in wealth of 548% since a year ago, he now sits at the top of the heat as the world’s richest person.

RankBillionaireWealth (Jan 6, 2021)One-Year Change
#1🇺🇸 Elon Musk $188 billion548%
#2🇺🇸 Jeff Bezos$184 billion57%
#3🇺🇸 Bill Gates$132 billion45%
#4🇫🇷 Bernard Arnault$114 billion8%
#5🇺🇸 Mark Zuckerberg$100 billion23%
#6🇨🇳 Zhong Shanshan$93 billionn/a
#7🇺🇸 Warren Buffett$87 billion-2%
#8🇺🇸 Larry Page$82 billion22%
#9🇺🇸 Sergey Brin$79 billion22%
#10🇺🇸 Larry Ellison$79 billion32%

Is this a temporary bump, or will Elon Musk stay atop the world’s richest person rankings for the rest of 2021?

Really, it all depends on Tesla’s stock price performance—and those that have bet against Tesla in recent years don’t have a great track record to lean on.

That said, price swings can happen in either direction, and if Tesla’s stock finds itself coming down to Earth, it’s possible that Musk’s ranking in the billionaire pecking order could tumble down with it.

>> Liked this? See how Elon Musk built his empire

Where does this data come from?

Source: Bloomberg Billionaire Index
Details: Jan 6th, 2021 data
Notes: Net worth figures on the tracker get updated frequently, so any up-to-date data may not match that of this article.

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Visualizing Earth’s Global Ice Loss Between 1994-2017

In just over two decades, the planet has seen 28 trillion tonnes in global ice loss. 58% of this ice loss occurred in the Northern Hemisphere.

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The Briefing

  • Due to global warming, 28 trillion tonnes of ice have melted in just over two decades
  • Over half (58%) of this global ice loss occurred in the Northern Hemisphere

Visualizing Earth’s Global Ice Loss Between 1994-2017

Nearly 70% of the Earth’s freshwater is locked up in glaciers and ice caps, ground ice, and permafrost. However, this ice is melting at an unprecedented rate.

Based on data from a new scientific survey, this visualization reveals that 28 trillion tonnes of Earth’s ice has been lost between 1994 and 2017.

How Much Ice Is Being Lost Exactly?

Figures at such scales can be difficult to wrap our heads around. For the record, one billion tonnes of water is equal to 400,000 Olympic swimming pools.

It’s then a bit easier to comprehend why, when multiplied tens of thousands of times, this much melted ice—specifically, grounded ice—has resulted in global sea levels rising by 34.6mm on average.

Cryosphere categoryIce typeChange (1994-2017)
Arctic sea iceFloating7.6 trillion tonnes
Antarctic ice shelvesGrounded6.5 trillion tonnes
Mountain glaciersGrounded6.1 trillion tonnes
Greenland ice sheetGrounded3.8 trillion tonnes
Antarctic ice sheetGrounded2.5 trillion tonnes
Southern Ocean sea iceFloating0.9 trillion tonnes

Over half (58%) of the ice loss occurred in the Northern Hemisphere, from Arctic sea ice and also grounded ice previously trapped in the Greenland ice sheet.

In fact, the rate of ice loss has risen from 0.8 trillion tonnes to 1.2 trillion tonnes per year, an increase of 57% since the 1990s.

The Impacts of the Ice Meltdown

Rapidly disappearing sea ice has severe impacts on the environment, both in the short and long term:

  • Wildlife habitat loss
  • Coastal erosion
  • Changing ocean currents
  • Extreme temperatures

While rising temperatures are behind most of this historical global ice loss, it’s worth noting that lower levels of ice lead to a positive feedback loop. Less ice means less of the sun’s heat is reflected away from the Earth, instead being absorbed back and further amplifying the global warming effect.

>>Like this? Then you might like this article on Mapping Territorial Claims in Antarctica

Where does this data come from?

Source: Slater, T. et al. “Review article: Earth’s ice imbalance”, The Cryosphere (2021)
Notes: Data from the scientific survey is based on satellite observations and numerical models. The metric measure of a “tonne” (1,000kg) has been used throughout for accuracy.

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Coinbase Experiences Brisk User Growth Ahead of IPO

Coinbase, America’s largest cryptocurrency exchange, saw a 117% growth in transacting users from Q4 2020 to Q1 2021.

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coinbase user growth

The Briefing

  • Coinbase is the largest cryptocurrency exchange in the U.S.
  • The company added 3.3 million transacting users in Q1 2021 – a 117% increase
  • $133 billion in assets were added to the platform, totalling $223 billion in Q1 2021

Coinbase Experiences Brisk User Growth Ahead of IPO

A week before its initial public offering (IPO), Coinbase reported significant user growth for the first quarter of 2021.

In a report released on April 6, the cryptocurrency exchange claimed to have an estimated 56 million verified customers in Q1 2021—that’s an additional 13 million since Q4 2020.

What is Coinbase?

Launched in 2012, Coinbase is the largest consumer-facing cryptocurrency exchange in America.

The company offers a variety of products, such as an advanced trading platform, crypto wallets for retail investors, savings accounts for institutions, and even its own stablecoin that’s backed by the U.S. dollar.

A Surge in Monthly Users and Assets

In Q1 2021, Coinbase saw a 117% increase in transacting users compared to Q4 2020, from 2.8 million to 6.1 million. That’s the highest jump in users in the last three years:

QuarterMonthly Transacting Users% Change
Q1 20182,700,000--
Q2 20181,200,000-55.5%
Q3 2018920,000-23.3%
Q4 2018850,000-7.6%
Q1 2019800,000-5.9%
Q2 20191,300,00062.5%
Q3 20191,200,000-7.7%
Q4 20191,000,000-16.7%
Q1 20201,300,00030.0%
Q2 20201,500,00015.4%
Q3 20202,100,00040.0%
Q4 20202,800,00033.3%
Q1 20216,100,000117.9%

In addition to its growing user base, the company also reported a 147.8% uptick in assets on the platform in the last quarter, from $90 billion to $223 billion.

QuarterAssets Held on Coinbase% Change
Q1 2018$13 billion--
Q2 201812.9 billion-0.8%
Q3 201811 billion-14.7%
Q4 2018$7 billion-36.4%
Q1 2019$8 billion14.3%
Q2 2019$21 billion162.5%
Q3 2019$17 billion-19.0%
Q4 2019$17 billion--
Q1 2020$17 billion--
Q2 2020$26 billion52.9%
Q3 2020$36 billion38.5%
Q4 2020$90 billion150.0%
Q1 2021$223 billion147.8%

Industry experts believe this strong start to the year is a good indicator of the company’s future profit potential.

For instance, the investment bank DA Davidson raised Coinbase’s share price target from $195 to $440 after seeing the company’s Q1 results.

>> Liked this? Take a deeper dive into institutional trading volume on Coinbase.

Where does this data come from?

Source: Company filings via The Block

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