While many business firms hit the rock bottom in the pandemic year, Elon Musk and Jeff Bezos are achieving unbelievable results in their respective fields. As per the latest Bloomberg report, Elon and Jeff have collectively increased their wealth by $217 billion last year.
Elon Musk Journey to 2nd Richest Person in the World
Elon Musk’s wealth grew fastest in the year 2020. Recently he became the second richest person in the world leaving behind Microsoft’s Bill Gates.
The credit for his exponential growth goes to Tesla shares. Currently, he has 75% shares of Tesla. Elon Musk has about $170 Billion net worth. Out of total wealth, he made approximately $144 billion in 2020. These wealth reports are based on the Bloomberg Billionaire Index.
Elon Musk’s wealth growth is most probably the quickest in history. It all happened because of the great success of his electric cars. Model 3 by Tesla is already the most selling electric car in the world. He is riding over the success of innovative technologies produced by his firms.
With Tesla’s official entry to India in January 2021, we can expect more success for Elon. Tesla CEO may launch the Model 3 electric car in India with a price tag of Rs 55 Lakhs.
Growth of Jeff Bezos Net Worth in Pandemic Year
On the other hand, World’s richest person Jeff Bezos saw his net worth touching $190 billion. The credit for his success goes to the online retail boom in the pandemic.
The whole world was in lockdown throughout the year 2020, Amazon grabbed the opportunity from both hands. The online retail leader made the consumer experience better in the difficult pandemic time. As per Comparably online survey, Amazon won 6 key awards in 2020. Among those 6 key awards, Best Professional Development, Best Company Compensation, Best Leadership Teams are the names of few awards that made the company successful.
Recently, Amazon has also acquired the American podcast network Wondery. This deal will establish Amazon in the podcast field as well. It will bring more fortune to the richest person of the world.
Affect of Pandemic on the World Economy
As per the Bloomberg Billionaire Index, World’s 500 richest persons added $1.8 trillion. Now, they are valued at 7.6 trillion. The top 5 richest persons have crossed the 100 billion marks. The other 20 richest persons have a wealth of at least 50 billion.
Whereas the billionaires’ wealth increased rapidly, a common man has faced severe difficulties in 2020.
In America, the government has already released a check of $1200 to its citizen. In December, they decided to release another check of $600 to the taxpayers. But these relief packages are still not enough. The debate and discussion are on to provide another check of $2000 to the citizens.
The employment rate is slowly increasing in the USA. November labor report stated that 15 million people did not work in that month.
Global economic status is even worst. As per the World Bank report, global poverty will rise for the first time in 20 years due to covid-19.