Elon Musk reclaims the world's richest person title from Jeff Bezos as Tesla's stock hits an 8-month-high

Elon Musk, Tesla CEO. Patrick Pleul/picture Alliance via Getty Images
On Friday, Elon Musk overtook Jeff Bezos to be the world's wealthiest person.

Musk stated that he hopes to make enough money to allow him to live to the end of his life.

This year, the billionaire added $60 Billion to his wealth thanks to Tesla's strong performance and the SpaceX stock sale.

Subscribe to our daily newsletter 10 Things Before The Opening Bell.

According to the Bloomberg Billionaires Index on Friday, Elon Musk was reclaimed the title of the world's wealthiest person. His wealth increased thanks to Tesla's stock.

Tesla shares closed Friday at $843.03 per Share, up 3% over the previous day. This brings the automaker's year to-date gains to around 20%.

This helped Musk to increase his net worth by $236 billion. It surpasses Jeff Bezos' $196 billion fortune.

Musk replied to a tweeter who claimed that Tesla's fortune was now equivalent to 861 billion Dogecoins. He also stated that he is more valuable than Bill Gates or Warren Buffett.

Musk stated, "Hopefully enough to extend the life to Mars."

The Tesla and SpaceX CEOs have a net worth of $60 billion each, driven by Tesla's strong performance and SpaceX's recent stock sale that increased its valuation to over $100 billion.

According to Bloomberg, the aerospace manufacturer is the second most valuable private company worldwide. A SpaceX agreement with investors added $11 Billion to Musk's wealth.

Bezos' personal wealth is mainly in Amazon shares. He has switched places with Musk many times on the Billionaires Index this past year depending on stock performance.

Musk made a joke of Bezos' last week by replying to a tweet about Amazon success with a silver medal emoji. Forbes reported that Musk told Bezos, the Tesla boss, that he would send him a silver medal along with a gigantic statue of a 2.

Bill Gates, co-founder of Microsoft, and Bernard Arnault, CEO of LVMH, are at the third and fourth places on the Bloomberg list with net worths $164 billion and $130 million, respectively. Warren Buffett, Berkshire Hathaway's boss, is ranked number 10, with a net worth $103 billion.

On Wednesday, Tesla will report third quarter earnings. It is expected that it will perform across the board with Wall Street analysts' average estimates at $13.7 billion in revenue and $1.54 per share profit.

Analyst Dan Ives from Wedbush said that Tesla's stock will rise despite a chip shortage. Third-quarter earnings are expected to be another positive catalyst.

Ives stated that while there will always be skeptics, we believe the EV revolution is still in its early stages. Tesla leads the charge with 3% of global automotive sales being EVs today and on pace for 10% by 2025.

Tesla shares traded 0.7% higher at $848.99 per Share in Monday's premarket session.

Continue reading: Crypto seems absurd. Yet, it is a popular way to make a lot of money. Are you the dumbest?