The Covid-19 induced 2020 has been catastrophic for not just people on singular levels but also industry sectors and companies all over the world.
However, things haven’t been going as down graph for tycoon Elon Musk and his different company verticals.
On November 17, Musk overthrew Facebook founder Mark Zuckerberg to take third place among the richest people in the world.
Now, just a week later, as Musk’s Tesla’s stock rose by about 6.58% on Monday, to close at $521.85, Musk’s net worth soared by $7.2 billion to reach $127.9 billion, thus surpassing Microsoft founder Bill Gates and officially becoming the 2nd richest person in the world.
Musk Portrays Most Impressive Jump in the List of World’s Richest People
According to Bloomberg Billionaires Index, which ranks the world’s 500 richest individuals, Elon Musk held the 35th position in January 2020.
Bloomberg has also reported that about 3/4th of Musk’s wealth is contributed by Tesla’s shares.
Thanks to a surge of nearly 500% in Tesla’s share prices, Musk’s wealth ascended by USD 100 billion, in just this year alone. This makes him the fastest growing individual among the list of world’s 500 richest people.
Tesla’s Admirable Climb
Last year, Tesla was trading at just $67 a share. Now, as mentioned already, its share price values at $520, which hemispheres a +35.2% gain in November, and +526.9% gain this year.
Also, as countries like the UK and India work towards transcending heavily into electric vehicles by 2030, along with countries all over the globe taking on and increasing demand on EVs, analysts believe that Tesla will soon achieve a sweeping value of $1000, per share.
Additionally, as Tesla will be entering the S&P 500 on December 21, 2020, becoming the biggest new entrant in the group’s history, this will further boost the company’s marks, hence possibly fueling Musk’s position.
Now, the only person standing between Musk and the richest person title is Amazon founder Jeff Bezos.Â
Comments are closed, but trackbacks and pingbacks are open.