Elon musk’s net worth has skyrocketed in the past year. He’s now worth about 131.7 billion dollars and is the second richest person in the world. He recently passed bill gates on the richest billionaires list and the gap between the two entrepreneurs will likely continue to grow. Gates plans to give away all his money and tesla’s stock price keeps rising so musk has likely passed gates for good. Musk is so wealthy that when he spends 1.35 million dollars it’s like the average person spending a dollar. Could Musk pass Jeff Bezos and become the richest person in the world?
Elon Musk is a lot richer today than he was just a year ago. the vast majority of Elon Musk’s net worth is tied to the price of Tesla’s stock and the company’s meteoric rise in the stock market has allowed Musk to become richer than Warren Buffett, Mark Zuckerberg, and even Bill Gates. In December 2019 Musk was worth a measly 26 billion dollars that’s it today he’s worth about 131.7 billion dollars although his net worth fluctuates by billions on a daily basis. Musk overtaking Bill Gates to become the second richest person in the world is big news but it’s not really surprising. In May 2019 Musk himself predicted that tesla would eventually become a 500 billion company thanks to autonomous self-driving cars. Tesla’s market cap at the time was about 45 billion investors clearly see the potential in the beta version of Tesla’s fully self-driving system because the company now has a market cap of about 550 billion. If Tesla is already worth more than 500 Billion how much will the company be worth when self-driving cars finally hit the market.
How He Spends His Money
Elon musk is very different from most billionaires. He doesn’t buy fancy yachts or expensive paintings and he doesn’t spend lavishly. He uses his Tesla stock options to invest in his own companies. Musk doesn’t even buy stock and blue-chips like apple Amazon or Microsoft after all why would he invest in the Competition. Musk says the only public security he owns is Tesla. He doesn’t own any bitcoin either the only thing that Musk invests in is himself. Musk owns at least 20 percent of Tesla stock and if he does ever sell a sizable portion of his holdings it will be only to fund his other ventures. Musk spent 100 million dollars to found SpaceX in 2002 and today his stake in the company is worth about 15.3 billion dollars experts predict that SpaceX could soon be worth as much as 100 billion dollars thanks to Starlink. Which is the company’s groundbreaking satellite internet constellation. Musk has also invested 100 million of his own money into his neurotech company neuro link in an effort to develop an implantable brain-machine interface. The boring company may be musk’s least interesting company. It did start off as a joke however musk envisions a future where underground tunnels will be filled with vacuum tube trains and autonomous electric vehicles. That’s why he’s investing a lot of his own money into the boring company too. In 2018 musk contributed roughly 90 of the 112.5 million dollars raised by the company that year. Most billionaires focus on one major company but Musk has his fingers in many pies. Musk is even becoming a minimalist to fund all of his extraordinary business ventures. Last year he said he plans to sell most of his possessions and then proceeded to put all of his real estate holdings on the market. Musk owns numerous mansions but he wants to sell them all and instead rent a small house in Los Angeles. This is a huge 180 because just a few years ago he was buying up all the mansions around him so he could have more privacy. At the time of his unbelievable declaration, he owned at least seven Mansions worth about 100 million dollars total. Musk recently sold his seven-bed eleven bath mansion in Bel air to tech billionaire ding lei for 29 million dollars. He still has more mansions to sell but it’s only a matter of time until musk completely liquidates his real estate portfolio. Musk’s girlfriend grimes was none too pleased with his decision to sell all of his mansions. The couple just welcomed a new baby into the world so he should probably think about keeping at least one of his luxurious homes. Musk may not need a place to stay he has famously been known to sleep on the floor at tesla factories but his family definitely needs a place to live.
Just how rich is Elon musk exactly.
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Let’s put things into perspective the median u.s net worth is about 97,300 Dollars Divide 131.7 Billion Dollars And you will get approximately 1,353,545 Dollars. That means that musk spending 1.35 million is like the average American spending a dollar. Musk is so rich that he’s worth more than multiple major American companies. His net worth is higher than the 115.05 billion market cap of Starbucks a lot of us can barely afford to drink Starbucks coffee musk on the other hand could buy the whole company outright. The tech mogul is also worth substantially more than a number of major U.S banks his net worth is higher than Citigroup’s market cap of 114.65 Billion and wells Fargo’s market cap of 113.08 billion now it’s easy to see why some people believe Elon musk could be the world’s first trillionaire. He’s worth nearly as much as Exxon Mobil which has a market cap of 161.22 billion dollars how fitting would it be for not only tesla to be more valuable than a major oil and gas company but musk himself as well. Musk isn’t just richer than some major corporations he’s also worth more than entire countries. Countries like Ukraine, Angola Kuwait, Sudan Morocco, Cuba, and Slovakia all have GDPs that are less than Elon musk’s net worth sure most of the countries that musk is richer than are developing nations. but it’s only a matter of time before musk is worth more than one of the world’s major economies. New Zealand’s GDP is about 206.9 billion it’s quite possible that musk could be worth more than that by the end of the year.
Elon Musk VS Jeff Bezos
It’s only a matter of time before the world sees its first trillionaire. Some predict Jeff Bezos could be worth 1trillion as soon as 2026 but what if Musk reaches that milestone first. Musk surpassed Zuckerberg, Gates, and Buffett so quickly it’s certainly possible that he could be worth more than Bezos sooner rather than later. It’s really just Bezos versus Musk at this point. Gates and Buffett are giving away all their money and facebook future looks very shaky. It all comes down to amazon stock versus Tesla stock. The net worths of both Bezos and Musk are dependent on how much their companies are worth. Amazon is the third-largest company in the world by market cap and it regularly jockeys for the number-one spot with apple and Microsoft. Amazon is worth about 1.59 trillion today which’s almost three times more than tesla for musk to be worth more than Bezos tesla stock would have to triple in value. That’s possible but keep in mind that Amazon also makes a lot more money tesla’s q3 2020 revenue was 8.77 billion while amazon’s q3 2020 revenue was a staggering 96.1 billion. We don’t know what the future will hold. But tesla has to become more than just a car company if Musk hopes to be worth more than Bezos. Many experts already think Tesla is far more than just an auto manufacturer. Tesla’s services business which includes self-driving GPS entertainment options performance upgrades and more is expected to grow significantly over the next decade. Tesla has also involved in battery production solar panels and aeronautics these segments could grow rapidly in coming years and eventually be more valuable than auto-manufacturing. It’s also possible that Musk’s net worth could surpass Bezos’s net worth and then crater tesla stock is in a bubble and musk’s net worth would tank if that bubble were to burst. musk would lose billions if Tesla’s share price took a major hit. It’s possible his net worth could drop all the way back to 20 billion. Amazon is involved in artificial intelligence cloud services and online retail. It’s a very diverse business will have to diversify as well musk wants to be the richest person in the world. SpaceX going public could also boost must net worth but so far he has been reluctant to take the company public.