Elon Musk closes in on Jeff Bezos for world’s richest man title

Tesla’s outstanding performance this year has gotten critics of the fast-rising tech company off their tail.

The man behind such an ambitious project, Elon Musk, is now worth $155 billion and within striking distance of the present world’s richest man, Jeff Bezos, estimated to be worth $185 billion, according to data retrieved from Bloomberg Billionaire Index.

Tesla Inc. CEO, Elon Musk, the electric-vehicle entrepreneur, has surely turned fabulously wealthy this year, taking into consideration that despite the prevailing COVID-19 pandemic he gained about $128 billion – a feat not seen in the history of humanity.

Tesla Stock surprisingly has returned about 855.31% within a year alone to investors and now has a market capitalization that stands at $608 billion (Bigger than Africa’s largest economy).

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.
  • Tesla was started 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.
  • His wealth gain is largely attributed to Tesla, the electric car automaker, which has gained 800% 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.

Bigwig FX, few months ago, highlighted major reasons why it believed the stock was a strong buy and could surpass the present most valuable listed technology company.


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