Friday , November 27 2020

Elon Musk enriches by 350% in 2020 and threatens second place for Bill Gates – Company

Elon Musk is living the most prosperous year in terms of his wealth in 2020. The wealth of Tesla’s CEO, which is closely linked to the company’s budget evolution, has risen nearly 350% since the beginning of the year, which has jumped ahead of Facebook founder Musk on the world’s richest list. He now takes third place on the podium, already very close to second place, as he will soon be removed by Bill Gates.

$ 122.8 billion, the equivalent of $ 103.4 billion, is the value of Musk’s fortune. Mark Zuckerberg, the founder of Facebook, is above $ 103.4 billion, and a short distance from founder Bill Gates of Microsoft, who ranks second in the Bloomberg billionaires ranking for $ 127.9 million, after seeing his fortune drop by 49.1 million since January. The richest man in the world, Jeff Bezos, remains brilliantly in the lead with $ 183.6 billion.

At the moment, Elon Musk’s wealth is enough to buy 66.3 million ounces of gold or 2.788 million barrels of oil. It is equivalent to 0.575% of gross domestic product in the United States and is 1,787,723 times the average household income in North America. Among the 500 richest, it accounts for 1.73% of total wealth.

Musk follows in Tesla’s footsteps

Musk has been the millionaire who has weighed the most money this year. It was $ 95.3 billion or 345.7%, due to the strong acceleration of Tesla, the leading manufacturer of electric vehicles. The shares of the billionaire in this company are the majority of his money, specifically $ 85.1 billion, to which are added 25.8 billion options.

The latest jump, which allowed Musk to overtake Zuckerberg, was the inclusion of the Tesla S & P500 in the North American benchmark index, the shares of the listed company rose 14% and Elon Musk’s fortune rose $ 15 billion to $ 15 billion. $ 117.5 billion. Prior to the publication of this news, Tesla’s CEO had a net worth of $ 102.1 billion compared to Mark Zuckerberg’s $ 105.6 million.

Although Musk’s fortune sank and retreated $ 27 billion in late March, after a general downward movement of stocks in the early 19 covid-19 pandemic, it increased again, and in July, a fortune of $ 71.5 billion – enough to dethrone Warren Buffett, ranked fourth on the list of the richest. In September, between advances and delays, it exceeded the 100 billion mark for the first time.

Musk is almost 20 times richer than in 2013

Musk’s wealth is now nearly 20 times higher than in 2013, when it had 6,494 million. It surpassed the 10 billion mark for the first time in December 2016, and by August 2017 it had already doubled to $ 20 billion. The number remained close to that threshold until mid-2019, but had already doubled by February 2020, reaching $ 43.5 billion, a month Tesla decided to invest $ 2 million in new shares, which ended up selling at a discount.

Tesla has risen this year like no other pair in the industry: 496.7% since January, 5.1% for Fiat Chrysler, 17% for General Motors and -5.2% for Ford Motor Company. This year Tesla has also reached the level of the most valuable car manufacturers in the world in terms of market capitalization.

There are more engines, but also brakes

Outside of Tesla, Musk still owes much of his fortune to Space Exploration Technologies, as Bloomberg has contributed $ 18.7 billion. However, the news agency acknowledged that Musk’s contracts with NASA may be undervalued and therefore worth more or less than expected.

It’s also a more marginal mention of the $ 101 million associated with the Boring Company, an infrastructure company that helps shape Musk’s portfolio. However, it negatively accounts for $ 6.9 billion in debt.

Among the unknowns that could affect the true value of Musk’s fortune, Bloomberg says millionaires may also have assets that are not publicly known or investments that could be launched in Silicon Valley (the U.S. innovation center). . Entrepreneurial expenses can be higher than estimated, as can loans.

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