Tesla and SpaceX CEO, Elon Musk, has become the second richest man in the world after his net worth beats those of Bill Gates and Mark Zuckerberg.
2020 has been a really good year for Tesla and Elon Musk. Despite the coronavirus impediments, the electric car company’s stock is doing well.
In fact, since movement restrictions have been lifted slowly in many places ‘doing well’ is a mild way to describe Tesla’s stock behaviour. Just a week ago, he became the third richest man after $12 billion to his portfolio due to Tesla rising stock prices.
The tech billionaire had begun the year with a net worth a little less than $30 billion. However, with Tesla fulfilling car deliveries and continuously impressing investors, his net worth grew steadily.
Now, Elon Musk has added about $100 billion to his net worth in 2020 alone. This is because Tesla’s stock has been growing astronomically. Its addition to the S&P 500 index further drove its shares higher. Now, Tesla is valued at around $500 billion.
See also: How Elon Musk added $12 billion to his net worth to become the third-richest man
Musk does not receive a salary while he serves as the CEO of the electric car giant. Instead, he is rewarded on a performance basis. He has received some of these payments for increasing Tesla’s valuation, but the biggest is yet to come.
If Mr Musk can take Tesla to a valuation of $650 billion by 2028, then he will get his massive payout, which will come in more stock options. With the way Tesla is going, Elon Musk may not need to wait up to eight years to get rewarded handsomely.
Bill Gates is currently worth $127.7 billion and this places him below Elon Musk, who is worth $127.9 billion. Amazon’s Jeff Bezos still leads the pecking order of the world’s richest men. In fourth place is Bernard Arnault, the chief executive of LVMH, the world’s largest luxury goods company.
Facebook’s Mark Zuckerberg is currently fifth after several months of being the third richest man in the world.
Elon ‘Money’ Musk
One of the most daring innovators of this age.