The Tesla maverick and SpaceX Chief, Elon Musk, has added fresh spice to the money-making race, surpassing Amazon Chief, Jeff Bezos, as the world’s richest man.
Musk hit a record-high $186 billion net worth after Tesla shares sky-rocketed on the hopes that a Democratic Caucus in the U.S Senate would usher in a green agenda.
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Bloomberg billionaires index has reported that a 4.8% hike in Tesla’s share price was all it took to push Musk to the apex.
Tesla’s share price soared sevenfold in 2020 as demand for electric cars jumped and governments announced measures to wean the world off internal combustion engines.
How strange
— Elon Musk (@elonmusk) January 7, 2021
The market value of Tesla, which recently joined the S&P 500 index of the world’s biggest companies, exceeded $700bn (£516bn) for the first time this week. That makes the company worth more than Toyota, Volkswagen, Hyundai, GM, and Ford combined. It’s imperative to note here that Musk owns 20 percent of Tesla’s shares.
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Prominent analysts have suggested that Tesla’s value went berserk amid dramatic Democratic victories in Georgia, a major determinant of who gets to control the U.S. Senate. The incredible turnout of votes in favor of the Democrats meant that the U.S. would probably levy tax credits for electric vehicles and join the green agenda already set by many European countries.
In lieu of Tesla’s market shares rising up vicariously, Elon Musk is now $1.5 billion richer than Bezos, who held the top spot since October 2017. Perhaps the SpaceX mastermind could soon hit the $200 billion mark and redefine what it means to be worth so much? Only time will tell.
