Tesla co-founder overtakes Jeff Bezos of Amazon as the shares of the car company skyrocket following ‘blue Senate’ victory
Elon Musk, Tesla’s maverick chief executive, has overtaken Jeff Bezos of Amazon to become the world’s richest individual after shares in the electric car business he co-founded soared on expectations that a new green agenda would be adopted by a Democrat-controlled U.S. Senate.
According to the Bloomberg Billionaires Index, which monitors the regular shifts in the fortunes of the 500 richest people in the world, a 4.8 percent increase in Tesla’s stock price was enough to catapult Musk to the top.
The net worth of the 49-year-old businessman reached $186 billion (136 billion pounds) as of 10:15 a.m. In New York on Wednesday, making him $1.5 billion richer than Bezos, who since October 2017 has occupied the top spot.
Musk responded with tweets saying “how weird” and “well, back to work …” to the news of his status as the world’s richest individual.
Elon Musk the Elon Musk
Ok, back to the job…
7th January, 2021
Musk said he plans to use half of his fortune to “help problems on Earth” and “the other half to build a self-sustaining city on Mars to ensure the continuation of life (of all species) in case Earth gets hit by a meteor like the dinosaurs or World War III happens & we destroy ourselves.”
In a series of tweets pinned to the top of his timeline by the South African-born billionaire, Musk said the reason he needs a lot of money is “not what you think.” He said he has “very little time for recreation” and does not have “vacation homes or yachts or anything.”
Elon Musk the Elon Musk
You ought to be asking why I want money. The explanation for that is not what you’re thinking. I have very little free time.
I have no holiday homes, yachts, or anything like that.
12th October, 2018
Less than two months have passed since Musk, who just 17 years ago co-founded Tesla, overtook Microsoft founder Bill Gates to become the second-richest person in the world.
As demand for electric cars skyrocketed, Tesla’s stock price grew more than sevenfold this year, and the government announced more steps to wean the world away from internal combustion engines.
For the first time this week, the market cap of Tesla, which was recently added to the S&P 500 index of the biggest U.S. firms, reached $700 billion (£516 billion). That makes the business worth more than the combination of Toyota, Volkswagen, Hyundai, GM and Ford.
At the beginning of 2020, Musk, who owns 20 percent of Tesla stock, was the 35th richest person in the world. He also controls SpaceX, the rocket company that, under an agreement with Nasa, transports astronauts to the International Space Station.
Musk christened his seventh boy X x A-12 last year. The mother of the infant, Canadian singer Grimes (real name Claire Boucher), said the name applied to the long-range surveillance aircraft “artificial intelligence,” and her favorite song, Archangel. Both parents were unaware about how the name should be pronounced.
-X, the unknown element, my elven Ai (Love &/or Artificial Intelligence) spelling,-A-12 = precursor of SR-17-17 (our favorite aircraft). No guns, no defenses, just velocity. Great, but not aggressive in battle + (A= Archangel, my favorite) ( metal rat).
The 6th of May, 2020
Analysts said the value of Tesla was improved by the victory of Georgia’s Democrats, who took control of the U.S. Senate, as it meant that the U.S. was likely to adopt electric vehicle tax incentives and follow the green agenda already set by several European countries.
“A blue Senate is very bullish and a potential ‘game changer’ for Tesla and the entire electric vehicle sector, with a greener agenda now certainly on the horizon in the coming years.” said Daniel Ives, an analyst at Wedbush Securities.
Tesla will benefit from planned U.S. tax incentives for electric vehicles, “which continues to have an iron grip on the market today,” he added.
In a “bull scenario” Ives expects that Tesla stock will reach $1,000 if the company can produce 1 million electric cars by 2022.
Tesla was just a touch away last year from hitting its target of half a million vehicles. The annual sales of the California-based manufacturer grew 36 percent after a final quarter that surpassed the forecasts of analysts, while the company plans to build a total of 499,550 cars by 2020.