Elon Musk is now the fifth richest person in the world

Top Line

Elon Musk’s meteor rise Forbes The billionaire list has continued this month, as he ascended past veterans like Warren Buffett and Steve Ballmer. As of Monday afternoon, Musk has total assets of more than $ 74 billion, meaning he is now the fifth richest person on the planet.

Key Facts

Musk, 49, is the CEO of electric vehicle company SpaceX and Tesla, whose share price has increased since March.

Tesla shares captured another 9.5% gain in Monday trading at $ 1,643.00, a 60% increase in just three weeks since June 29, and an increase of nearly 300% in 2020 alone.

Musk was ranked No. 31 on Forbes’ list of billionaires as of March 31, with a net worth of less than $ 25 billion.

Since then his fortune has nearly tripled, skyrocketing to $ 74.2 billion in Monday’s business, Forbes Calculates.

Musk owns 21% of Tesla, but has pledged more than half his stake as collateral for the loan; Forbes has waived its stake to take loans.

Main Background:

Musk first made $ 2.4 billion on Forbes’ list of 400 Wealthiest Americans in 2012 with $ 190 billion. On 1 January this year, he was the 37th richest person on earth. However, Tesla’s sudden and spectacular rise brought him to the top of the world’s wealthiest humans. Tesla’s boom has confused some investors, noting that it is much smaller than its rivals and has only recently started entering quarterly profits. Tesla produced 103,000 vehicles in the first quarter; During the same period Toyota produced 2.4 million vehicles. In 2019, American automakers General Motors and Ford generated ten times more sales than Tesla. At the end of last month, Morgan Stanley analysts warned that Tesla stock, which at the time was trading at around $ 1,000 a share, was “grossly overvalued and ready to dip.” Earlier this month, Musk said Tesla would produce almost fully autonomous self-driving vehicles by the end of 2020, a claim made with suspicion by an auto industry that mused over the capabilities of self-driving technology Was accustomed to preaching. . Musk has not sold Tesla shares since 2010.

Important Quotes:

“I really couldn’t care less,” Musk emailed Forbes earlier this month about his net worth. “These numbers rise and fall, but what really makes great products is what people like.”

“Like we’re looking at Microsoft and Tesla and Amazon are really crazy and unlike anything I’ve ever seen in my life,” Tweeted Analyst Jim Kramer on Monday afternoon. Asked if Tesla is a ‘Kovid stock,’ Kramer Replied, “I don’t even know if it’s a stock. It’s something else entirely, like a new species discovered in the wild.”

tangent line:

When Kanye West initially announced he was running for the presidency, he said he had “full support” of Musk, a long-time close friend. In a deleted tweet, Musk responded, “There may be more differences than we anticipated.” However, Musk later told Page Six, “Kanye explained some of the reasons behind why he did what he said. It makes more sense than many people, including me.” On July 4, Musk tweeted, “You have my full support!”

Further studies:

Elon Musk: Tesla to have level 5 self-driving cars this year (Forbes)

Tesla is now the world’s most valuable car company with a $ 208 billion valuation (Forbes)

Tesla stocks may rally for this rude reason – and it won’t end well (Forbes)