2020 wasn’t a great year, but for Elon Musk, it was phenomenal. From the new highs that Tesla made to the records set by SpaceX helped in Elon Musk’s net worth grow multiple times in the year. First, the guy crosses Mark Zuckerberg, and within a few weeks, he also crossed Bill gates to become the 2nd richest person in the world. And now his net wealth is very close to Jeff Bezos’s, whom he might top off very soon. So, yes, he might not stay the 2nd richest person for too long.
Tesla’s rally and Elon Musk’s net wealth
The main reason behind the growth of Elon’s net wealth is the large shareholding he has in Tesla. The share has been in a constant rally in 2020 and has grown by over 7 times in the year. It was even included in the S&P 500 Index boosting Elon’s net wealth and the share’s price even further. As of Wednesday(6th January), the net wealth of the CEO of Tesla and SpaceX, Elon Musk’s net worth, was $181.1 billion. And this brings him closer than ever to cross Jeff Bezos and become the richest person in the world.
We can definitely say that Tesla’s price growth and Elon Musk becoming rich is are directly proportional to each other. With over 700% gains from Tesla in 2020, Elon’s net wealth increased by $150 billion. And now, the recent new year rally of Tesla boosted his net wealth again, pushing him closer to Jeff Bezos. Plus, the great performance of Tesla and the huge no of deliveries they are making are also helping in gaining the trust of investors, pushing the price even further.
How Elon Musk plans to use his wealth?
Yes, Musk is rich and rich people often spend money lavishly, but Elon has a very different goal. He said in an interview that he has little to no interest in materialistic possessions. Instead, he wants to progress humanity as much as possible. He plans to set up a civilization on Mars and contribute to it as much as possible in terms of wealth, time, and effort. Being down to Earth and really smart makes Elon Musk a person one can look up to. Let’s wait and see how many more weeks it takes for him to cross Jeff Bezos and become the richest person in the world.
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