The year 2020 was a good year for Tesla’s founder and Chief Executive Officer, Elon Musk; his fortune recorded a whopping gain of $140 billion in value, as his stock holdings of Tesla recorded impressive gains.
What you must know: The celebrated entrepreneur gained the most on the list of the world’s richest men, in possibly the fastest feat seen in terms of wealth creation history, as he jumped to the second spot after Tesla Inc. leaped in value.
- Tesla Inc. CEO, Elon Musk, the electric-vehicle entrepreneur now worth $167 Billion, has surely turned fabulously wealthy, taking into consideration that despite the prevailing COVID-19 pandemic, he gained about $140 billion – a feat not seen in the history of humanity.
- The world’s 500 richest people gained $1.8 trillion to their combined net worth in 2020 and are now worth about $7.6 trillion, according to the Bloomberg Billionaires Index.
He is within the striking distance of the present world’s richest man, Jeff Bezos, who is now worth $192 billion. Elon Musk’s wealth valuation is equivalent to about 10% of the entire crude oil reserve of Africa’s largest economy, Nigeria.
What you should know about Elon Musk
- Elon is also the CEO of Space Exploration Technologies, a rocket manufacturer tapped by NASA to resupply the space station.
- His company, Tesla, founded in 2003, is a California-based company that sells electric vehicles.
- Today, Tesla builds not only all-electric vehicles but also infinitely scalable clean energy generation and storage products. Tesla believes that the faster the world stops relying on fossil fuels and moves towards a zero-emission future, the better.
- Tesla remains the only foreign 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 in 2020, investors may want to continue holding.
- His wealth gain is largely attributed to Tesla, the electric car automaker, which has gained over 650% 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.