Amazon CEO Jeff Bezos touched the $200 billion mark on 25th August 2020. On that day, he became the first person in history to touch the $200 billion individually. Can you guess the net worth of Elon Musk on that day? Well, his net worth was $101 billion.
Yesterday, Elon Musk became the richest person with a total net worth of around $188 billion. On 8 Jan 2020, he became the second person in the world to touch the $200 billion landmark. Within 4 months, he added 100 billion in his net worth.
How Elon Musk Touched $200 billion net worth?
Elon Musk believes in innovation. Through the latest technology, he is bringing new products to the market. The whole world is facing a global warming issue. To tackle that, Elon Musk’s Tesla introduced the Electric car. Other companies are also manufacturing electric vehicles but no one can compete with Tesla.
Model 3 electric car is the most talked-about Tesla product. There is a big demand for different variants of Tesla. As per the latest reports, Tesla has sold around 5 lakhs units of Model 3 worldwide. In the first quarter of 2020, Model 3 will also be on the roads of India.
Back in 2018, Elon Musk negotiated one of the complicated and controversial deals related to his pay package. Tesla will not give any salary or bonuses to Elon. He signed a performance-based compensation plan. Tesla stock will decide Elon Musk’s compensation. This plan helped Elon to reach on top of the list.
Initially, experts thought that Elon did not negotiate his compensation properly. He would have chosen the fixed salary scale. No one ever thought that Tesla will grow like this. Now, everyone calls the compensation plan a masterstroke.
Tesla deals in clean energy and transportation. Electric cars have made Tesla the most valued auto company in the world. Not only the leader in the auto industry, but Tesla’s market cap is more than the combined value of the World’s top nine auto companies.
Tesla is riding high on the success of initial Musk’s plans. Elon’s master plan includes electric vehicles with zero-emission energy, solar roofs, and Robo-taxis. He is on the way to implement all this.
He has plans to use all his wealth on two ambitious projects. First, he wants to spend half of his wealth to make the earth better. The renewable energy project is the step towards his first goal.
Second, he wants to establish a city over Mars. He imagines that natural calamity or human conflicts may destroy the earth and the whole living species. With the Mars project, he wants to make sure life continues on Mars.
Why Jeff Bezos Net Worth Progress Halted?
Jeff was the richest person before Elon Musk. The decline in his net worth helped Musk to reach on top position easily. Amazon CEO Jeff Bezos’s net worth is not showing any significant growth. In worldwide lockdowns, Amazon’s share value increased a lot. Now, the story is different.
Tense relations between Amazon and its employee has made things difficult for Amazon. Employees are demanding a minimum wage of $15/hour. There is conflict related to health care, covid deaths of employees.
This situation sent a wrong signal to the investors. US politicians also criticized Amazon’s policies. People think that Amazon is responsible for destroying Malls and Street businesses.
Another major reason for Amazon’s downfall is the rise of other online retailers. Sites like Shopify and Etsy is giving tough competition to Amazon. Amazon Grocery also did not perform up to the expectations.
Elon Musk holds 20% Tesla shares and 48% SpaceX shares. For the last 12 days, Tesla share is on a winning streak. In the last 12 months, Musk has added more than $175 billion in his net worth.
Experts believe that the new US government supports Elon’s idea of clean energy. Government favorable policies will add more value to Musk’s net worth.