Elon Musk has just hit a new apex by surpassing Bill Gates to become the world’s second-richest person.
The founder of the most sought automaker company Elon Musk has just hit a new apex by surpassing Microsoft, founder, Bill Gates to become the world’s second-richest person.
Data retrieved from the Bloomberg billionaire index shows the 49-year-old whiz entrepreneur net worth is now pegged at $128 billion, driven by yet another surge in Tesla’s share price.
Musk has gained $100.3 billion to his net worth just in 2020, the most by anyone in the Bloomberg Billionaires Index – a ranking of the world’s 500 richest people.
What you must know: Musk is the CEO of Tesla, a maker of electric vehicles. The California-based company sells electric vehicles. He’s also CEO of Space Exploration Technologies, a rocket manufacturer tapped by NASA to resupply the space station
His wealth gain is largely attributed to Tesla, the electric car automaker, which has gained 500% in 2020 and has become by far the world’s most valuable automaker in the world, despite it producing far less than Volkswagen, Toyota, or General Motors.
About a fifth of the car company’s shares is owned by its Chief Executive, Elon Musk, and other insiders.
Recall Nairametrics, some months ago highlighted major reasons why Nairametrics believed the stock was a strong buy and could surpass the present most valuable listed technology company.
- Tesla was founded in 2003 by a group of engineers who wanted to prove that people didn’t need to compromise to drive electric – that electric vehicles can be better, quicker, and more fun to drive than gasoline cars.
- Today, Tesla builds not only all-electric vehicles but also infinitely scalable clean energy generation and storage products. Tesla believes the faster the world stops relying on fossil fuels and moves towards a zero-emission future, the better.
- Tesla remains the only major carmaker to have a huge physical presence in the world’s second-largest economy. With the electric-car maker’s launch of a new factory in China in 2019 and, the beginning of its Model Y models earlier this year, investors may want to continue holding.
Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment Trading. Featured Financial Market Analysis for a Fortune Global 500 Company. Member of the Chartered Financial Analyst Society. Follow Olumide on Twitter @tokunboadesina or email olumide.adesina@nairametrics.com.
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