Tech entrepreneur Elon Musk has topped Microsoft founder Bill Gates to become the world’s second-richest man after a meteoric rise in his fortune.
Mr Elon Musk’s net worth rose $ 7.2 billion ($ 5.4 billion) to $ 128 billion after the rise in shares of his car company, Tesla. According to the Bloomberg Billionaires Index, only Amazon founder Jeff Bezos is rich. It comes after news broke that Tesla will add shares to the S&P 500, one of the major US stock indices.
It created a new wave of buybacks for electric car makers, sending the company’s market capitalization to more than $ 500 billion, raising the value of Mr Musk’s business.
Musk: Cheap Tesla Ready ‘Elon Musk Covid-19’ may have a moderate case ‘Tesla is already the world’s most valuable car company as sales reach a new record after nearly three years of surviving the Tesla epidemic. Vehicles of rivals such as Toyota, VW and General Motors.
In a speech in Germany on Tuesday,
Mr Musk said Tesla could make sense of expanding in Europe by entering the big market with a smaller car. “In the U.S., cars are big for personal taste reasons,” he said.
“Europe (they) are small.” After years of losses, Tesla continues to make five consecutive quarters of profits as sales of its cars continue to thrive despite the epidemic. The California-based company will be the largest new entrant to the S&P 500, with a market value of over $ 500 billion.
Means that the investment funds that follow the index will automatically hold its shares and profit from the gains in its share price – news that has alarmed investors.
Microsoft co-founders Gates and Bezos Bill Gates were the wealthiest people in the world before Mr Bezos reached the top in 2017. Mr Gates’ net worth is $ 127.7 billion, but it would have been higher if he had not donated more money to charity. For decades. Bloomberg estimates Jeff Bezos’ net worth to be $ 182 billion. He, too, has seen his wealth increase this year as demand for Amazon services has risen during the epidemic. Mr Musk, who regularly causes controversy, has had an incident in the last few weeks. Last weekend he tweeted that he had “mostly” a moderate case of Covid-19 and had “mild cold” symptoms. It arrived the day before the launch of four astronauts on a rocket built by Mr Musk’s SpaceX to the International Space Station.
Who is Elon Musk?
Elon Musk was a South African-born American entrepreneur and entrepreneur who started X.com (later PayPal) in 1999, SpaceX in 2002 and Tesla Motors in 2003. The company, Zip2, Compaq Computer Division. In May 2012, Musk made headlines when SpaceX launched the first commercial vehicle to launch a rocket to the International Space Station. He strengthened his portfolio with his acquisition of the solar sector in 2016. He confirmed his position as an industry leader, playing an advisory role in the early days of President Donald Trump’s administration. Initial life Musk was born on June 28, 1971, in Pretoria, South Africa. As a child, Musk became so lost in his daydreams of inventions that his parents and doctors ordered a test to test his hearing. When his parents divorced, at the age of 10, Musk became interested in computers. He taught himself how to program, and when he was 12, he sold his first software.
Companies owned by Elon Musk
Zip 2 Corporation
Musk started his first company, Zip2 Corporation, in 1995 with his brother Kimball Musk. Zip2, an online city guide, will soon be providing content for new sites in the New York Times and the Chicago Tribune. In 1999, a division of Compaq Computer Corporation bought Zip2 for $ 307 million for $ 34 million and shares for $ 34 million.
In 1999, Elon and Kimble Musk used the proceeds from the sale of Zip2 to find X.com, an online financial services/payment company. The acquisition of X.com the following year led to the creation of PayPal. In October 2002, Musk earned his first billion dollars by acquiring $ 1.5 billion worth of shares in PayPal eBay. Before the sale, Musk owned 11 per cent of PayPal shares.
Musk founded his third company, SpaceX Technology Corporation (SpaceX) in 2002, intending to build spacecraft for commercial space travel. By 2008, (SpaceX) was well established, and NASA awarded the company the contract to transport cargo to the International Space Station with plans for future space transport, replacing space shuttle operations.