Elon Musk, founder of Tesla, one of the world’s largest electric carmakers, has become the world’s richest man.
His net worth has reached 185 billion, after which he has surpassed Jeff Bezos, the founder of the shopping website Amazon.
Elon Musk’s fortune rose on Wednesday as shares of his company, Tesla, rose to 700 billion.
The combined value of the world’s 5 largest carmakers Toyota, Volkswagen, Hyundai, General Motors and Ford, is now lower than that of Tesla.
Who is Elon Musk?
Along with Tesla, rocket maker SpaceX is also a product of Elon Musk’s mind, and for the past several years, the US space agency NASA has also been using Elon Musk’s company.
Recently, NASA astronauts have been successfully landed on the International Space Station with the help of a SpaceX rocket.
On the other hand, electric vehicles made by Tesla are becoming popular in Europe after the United States.
In November last year, his company Tesla reached 500 billion and became the second richest man in the world, surpassing Bill Gates.
The Corona virus epidemic has hit the global economy hard, but Tesla continues to receive orders for its vehicles, adding to the company’s value.
According to Tesla, in the year 2020, it has manufactured 500,000 vehicles and delivered them to the customers.
What would Elon Musk do with so much wealth?
He reacted in a peculiar way to the news of becoming the richest man on Twitter, saying, “How strange.”
Then he wrote underneath: ‘Well, let’s get back to work.’
Elon Musk wrote on Twitter in 2018 that half of his wealth is to solve the world’s problems and half of the goal is to build a city on the planet Mars that is self-sufficient.
According to him, this city will be so that if the world is destroyed due to the third world war or a meteor, all kinds of life in the world can be kept safe in this city.
Benefit from Biden's victory?
US politics has also affected Elon Musk’s wealth, which Democrats will have full control of at the next Senate session.
Daniel Ives, an analyst at Wadebush Securities, says having the Senate in the hands of Democrats could be beneficial for Tesla, and possibly even a “game changer.”
He says it will benefit the entire electric vehicle industry as a whole, as he says it is clear that an environmentally friendly agenda will be pursued for the next few years.
He added that tax breaks on electric vehicles would also benefit Tesla.
Increase responsibility with wealth?
The owner of a company has become the richest man in the world who has made an annual profit for the first time and which is still very small in front of companies like Toyota or Amazon.
But with Tesla’s share price rising sevenfold in the past year, it has overtaken Amazon founder Jeff Bezos.
But it would also be unreasonable to believe that the value of an electric vehicle company could increase so much in just 12 months.
This means that Elon Musk will have to show within the next five years that his company is not so unreasonable, and that he will have to make more profits overall from the entire automotive industry.
But his fans will surely point out that Musk has consistently surprised those who doubted his work and bet that he would become poor.
Jeff Bezos is also using his personal wealth for space exploration
Similarly, 20 years ago, Amazon founder Jeff Bezos was going through a difficult time when the trend of investing in dot com companies was over and making huge profits from a technology company or website was just a dream.
But those who trusted Jeff Bezos’ vision at the time and invested in Amazon are now very rich.