Although this year’s pandemic has seen billions of people struggle to keep their company alive, the year has been generous for billionaire Elon Musk.
According to recent news, as his net worth increased to $129 billion, Elon Musk passed Bill Gates to become the second richest man in the world. Recently, He crossed Mark Zuckerberg to become 3rd richest man.
Mark Zuckerberg, the founder of the social media giant Facebook, is now in fourth place, with a net worth of $110.8 billion.
This year, thanks to a rise of almost 500 percent in Tesla’s shares, the owner of SpaceX and Tesla saw an increase of almost $87.8 billion.
Bloomberg Billionaire Index reports have revealed that Musk, who is very famous and also likes Twitter, has benefited the most out of all the billionaires.
Elon and Bill, in plain terms, don’t get along well. Recently, both of them have had a lot of verbal debates as they called each other by names. When Gates also went for electric car porches instead of Tesla and claimed he’s not publicly a fan of Tesla cars, Elon said Bill Gates had no idea what he was talking about.
As it stands, despite having a fraction of the number of vehicles churned out by more developed manufacturers such as General Motors, Volkswagen, and Toyota, Tesla is now the most valuable automaker in the world.
Tesla becomes the most valuable automotive company in the world and manages to hit new heights even despite a pandemic
The company, which began as a problem-plagued upstart just over 15 years ago, Tesla is now the most valuable automotive company in the world – overtaking industry giants like Toyota and Volkswagen.
This milestone comes after a year of steady growth, which only struck a speed bump earlier this year because of the negative impact COVID-19 had on new car sales. Despite these headwinds, the valuation of Tesla has jumped since last year’s time by an impressive 375 percent.
Another of Musk’s businesses reached a major milestone this week with Tesla scheduled to enter the S&P 500 on December 21.