Elon Musk – Richest Man in the World
Author - Abin John
Elon Musk—The Face of Tesla, Space X, NeuraLink, The Boring Company is now the richest man in the world with a whopping $191 Billion as his net worth surpassing Jeff Bezos who claimed the richest man title since 2017. 2020 may be a disaster year for the entire world but not for Elon. In 2020 Tesla saw a 740% share price increase which helped Elon to earn $160 Billion which is the fastest accumulation in the wealth history.
Networth of Elon Musk & Jeff Bezos
Elon’S Stake in Tesla
Elon Musk has 241 million Tesla shares, including stock options that are worth more than $180 billion, including all assets. Musk owns almost three times more shares in Tesla than the next largest institutional shareholder.
Do you know Elon is not the founder of Tesla?
Interesting right? In 2003 Tesla was founded by Martin Eberhard and Marc Tarpenning while Elon joined Tesla in 2004 after investing $6.3million in tesla stock during Series A round of funding. Musk already had a fortune of net worth thanks to his stake in PayPal which he later sold.
In 2008 and 2009 Elon faced a lot of heat since both Space X and Tesla weren’t doing good, Space X was trouble having launched their Falcon rocket while Tesla was about to go bankrupt with only $10 Million in hand, they were suffering to keep the promise to customers for the delivery of the existing orders. Musk went to apple for help but Tim Cook refused to even meet Elon. Thanks to Daimler (Parent company of Mercedes Benz) pitched in and invested $50 Million for the 10% stake in the company which helped tesla to continue production and fulfill the existing orders. Later Tesla Secured a $465 Million loan from the US Department of energy which kept the company going. Since then, there is no stopping to Elon, Tesla & Space X, as the company raised another $226 Million in its IPO and went public in 2010 while Space X received a $1.5 Billion contract from NASA to deliver supplies to space.
Tesla now has a Market Cap of $785 Billion which is a bigger market cap than the top 10 car manufacturers combined.
Source – Ycharts
Here are some facts about Elon Musk—
1. While studying at the University of Pennsylvania, Musk and a classmate rented out a 10-bedroom frat house and turned it into a nightclub. The move which Musk undertook with Adeo Ressi, was one of his first entrepreneurial experiments. (Source: Vogue)
2. In 1983, at the age of 12, Musk sold a simple game called "Blastar" to a computer magazine for $500. Musk described it as "a trivial game ... but better than Flappy Bird." (Source: WaitButWhy)
3. With his brother, Kimbal, Elon launched Zip2. Zip 2 provided city travel guides to newspapers like The New York Times.
4. While Zip2 got off the ground, Musk literally lived in the office and showered at a local YMCA. The hard work paid off when Compaq bought Zip2 in a deal worth $341 million in cash and stock, earning Musk $22 million. (Source: Stanford)
5. Musk next started X.com, an online banking company. He launched the company in 1999 using $10 million of the money he got from the Zip2 sale. About a year later, X.com merged with Confinity, a financial start-up co-founded by Peter Thiel, to form PayPal. (Source: Investopedia)
6. When PayPal was sold to eBay for a whopping $1.5 Billion in 2002, Elon made $165 Million from the deal.
7. In early 2002, Musk founded the company that would be known as Space Exploration Technologies, or SpaceX, with $100 million of the money received from the PayPal sale. Musk's goal was to make spaceflight cheaper by a factor of 10. (Source: Rolling Stone.)
Alright, What do you think about Elon Musk & Tesla?
Will they remain at the top or is it just a bubble that will collapse one day?
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