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Sunday, October 24, 2021

A Prolific Analysis about Elon Musk’s Net Worth

It has been officially declared that Elon Musk is now the richest man in the world. He has a net worth of $185 billion as per calculations by CNBC. 

An increase in the price of Tesla’s shares facilitated the change and Musk were pushed ahead of Jeff Bezos. It may be mentioned here that Jeff Bezos has been on the world’s richest list since 2017. His present net worth is $184 billion. 

It has been noted that Elon Musk’s growth to being the richest man over the years has been one of the fastest in history. Not long ago, Elon Musk was in the news for issues related to cash burns. 

In the year 2020, he started with worth $27 billion. In fact, he was not even prominent in the top 50 richest people. The main success and rise in net worth can be attributed to the rise in the share price of Tesla. It grew nine times over the last year. 

In the month of July, Elon Musk left behind Warren Buffett and became the seventh richest man in the world. In the month of November, he left Bill Gates behind and became the second richest person in the world. 

Interestingly, in the last one year, Elon Musk has earned more wealth as compared to Bill Gates. The net worth of Bill Gates is $132 billion. 

On Thursday, Tesla shares closed at $816.04, which was an increase of approximately 8%. The market value of the company has skyrocketed by $760 billion.

Elon Musk also occupied the top position on the Bloomberg Billionaires Index. As per the Forbes Real-Time Billionaires List, it showed Musk approximately $7 billion behind Jeff Bezos when the market closed on Thursday. 

The net worth of Jeff Bezos was “pegged” at $184.6 billion and Elon Musk at $177.2 billion by Forbes. But Forbes here did not include the value of the options that belong to Lusk, and the ones that he received as part of his pay packet. 

tesla shares

Fast Facts about Elon Musk 

  • Elon Musk’s aim is to “revolutionize” transportation on Earth and in space. On Earth, it aims to do so with the help of the electric car market Tesla. And in space, he aims at doing so with the help of rocket producer SpaceX.
  • His stake in Tesla is 21%, however, he has used up more than half his stake and used it as collateral for seeking loans.
  • An SEC probe was initiated against him when he made “false statements” about taking Tesla private. He gave up the post of chairman in 2018. Tesla is a company that deals with electric vehicles. It is based in California and concentrates on emphasizing the use of sustainable energy, solar, and renewable energy. 
  • SpaceX is the rocket company that belongs to Musk and it is valued at $46 billion at present. 

As of March 2020, according to Forbes, there were 2,095 billionaires worldwide. Since his net worth is $USD188.5 billion, “his bills could wrap around the Earth more than 733 times”.

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Kiara Dawson
Kiara Dawson comes from an Engineering background, with a specialization in Information Technology. She has a keen interest and expertise in Web Development, Data Analytics, and Research. She trusts in the process of growth through knowledge and hard work.

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