CEO of Tesla Motors, Elon Musk beats Jeff Bezos To Become The World’s Richest Man and is now worth $188 Billion.
The outspoken and controversial entrepreneur has reached a status that only three people have attained in the last 20 years: the world’s richest person. On his way to the top of the list, he toppled a number of billionaires this year including Amazon’s Jeff Bezos, Berkshire Hathaway’s Warren Buffet, and ex Microsoft founder Bill Gates. This news comes only a few days after Tesla released its delivery reports for 2020.
The 49-year-old genius attained this feat thanks to Tesla’s dizzying rise. Musk has 20% equity in Tesla with $42 billion of unrealized gains on stock options. These come from grants Musk received in 2012 and 2018. The latter of which was the largest pay deal ever struck between a CEO and his corporate board.
He acknowledged the milestone in his truest fashion: by sending out tweets: “how strange” and “well, now back to work.”
But the title of the world’s richest person isn’t what makes Musk so fascinating. It’s the pace at which he attained the position. Just a year ago, Elon Musk was at the tail of the list. This year though, his position was boosted by $150 billion thanks to Tesla’s bullish streak.
If one looks at Tesla’s stock, one would notice how it has suffered from extreme volatility. With just one Tweet by Musk or a financial update, the share prices have historically surged or plummeted. For example, in 2018, Tesla’s share price received a 3.8% gain, but between the flanks of a stock market calendar- January 2, 2018, and December 31, 2018, the company’s share prices swung from heaven to hell.
Musk’s net worth soared over a staggering $150 billion over the past year. This figure may be the fastest wealth creation in the world’s history. The main reason for this is tesla’s share price that surged to an astronomical 743%.
However, Musk is known to have little interest in the materialistic nature of things. In an interview with Axel Springer last month, he said that the main purpose of his wealth is to push humanity’s evolution into a civilization that spacefarers.
About half my money is intended to help problems on Earth & half to help establish a self-sustaining city on Mars to ensure continuation of life (of all species) in case Earth gets hit by a meteor like the dinosaurs or WW3 happens & we destroy ourselves
— Elon Musk (@elonmusk) October 12, 2018
If you want to learn more about Elon Musk and his life and times, watch our video and be on your way to create a dent in the universe yourself.