Sunday, June 26, 2022

Elon Musk: Current World Richest Man

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Elon Musk, an engineer, Industrial Magnate, industrial designer who is the Product Architect and CEO of Tesla Incorporation, CEO and Lead designer of SpaceX, Founder of PayPal formerly and Boring Company, Co-founder of Zip2, Neuralink, OperaAl and Chairman of SolarCity today 7th January, 2021 pipped Amazon Founder and CEO Jeffrey Preston Bezos to become world’s richest man on the report of Bloomberg.

The South African born Engineer who holds the citizenship of Canada and United States of America attained this feat at just 49 years old which makes him not only the richest man in the world but the youngest to attain the richest man in the world from Bloomberg reports.

As at 10:15 am today, the SpaceX and Tesla founder’s net work skyrocketed to $188, 500, 000,000  a staggering $1,500,000,000 gap from the Amazon CEO Jeffrey Preston Bezos  .

However, the spaceX founder’s net worth increased to $150,000,000,000 back in 2020.

The tesla founder whose share experienced a 4.8% increase today moved him up to the ladder all the way to the top to attain the youngest richest man iin the worldfrom Bloomberg Billionaire report which records the 500 most richest in the world.

A 743% increase in the stock market of Tesla in 2020 saw the Tesla CEO net worth to rise by $150,000,000,000 plus.

The Tesla founder’s surprise rise was a result of the great increase in the company value in the stock market. A 500% increase by early 2020 is now value at $495,000,000,000 on Wall Street.

The SpaceX founder Elon Musk, who also has an 18% share in the company benefited greatly from this great rise by a staggering $100,000,000,000 profit same early 2020.

Tesla Group Electric cars, the future of the automobile

The company founded by Elon Musk benefitted hugely after the President Elect of the United States of America gave his word that he would encourage the electric vehicles production and development in the country.

Additionally, the company’s entry into the S and P index helped them greatly. This made it possible for the systematic inclusion of the company’s activities in several financial products broadening its scope. Several Investors have bought in to the idea of the future automobile created by the Elon Musk Company Tesla.

Equally important, Elon Musk didn’t only pip Jeffrey Preston Bezos as the richest in the world but all is now worth more than United States most valued company ExxonMobil (XOM) who had below $191,000,000,000 market value today as well though the later will hold momentarily.

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