Tesla’s shares skyrocket and its CEO Elon Musk now becomes the world’s second-richest person after Jeff Bezos

The year 2020 proved to be quite unfortunate for a wide range of the people in the world. Due to the coronavirus pandemic, many people got ill, a lot of them lost their lives or saw someone close to them passing away because of COVID-19. Not only health-wise, but most of the world also faced financial losses. However, Tesla’s CEO Elon Musk is amongst those lucky people for whom this year turned into a blessing in disguise. According to the Bloomberg Billionaires Index, the value of Tesla’s shares skyrocketed, and this added a total of $100 billion more to Elon Musk’s net worth. Now, with a total approximate net worth of $128 billion, Elon Musk has become the world’s second-richest person. Microsoft’s Co-founder Bill Gates previously occupied this spot. But now, Elon Musk has surpassed the net worth of Bill Gates and taken over his place amongst the richest people in the world. He is still a little short of Amazon’s CEO, Jeff Bezos, who occupies the first position as the world’s richest person.

There was a time when people used to laugh at Elon Musk’s ideas. Tesla’s electric cars were considered as something ‘useless.’ People used to tell Musk to stop investing in the futuristic luxury electric cars and rockets, but thankfully, Musk never listened to anyone else and did what he felt like. Because now, these are some of the key reasons for Tesla’s share values plummeting through the skies. Recently, the Model 3 electric car by Tesla has been found as the bestselling luxury car in the US. Wall Street and other organizations are now appreciating the clean atmosphere these electric vehicles bring on. The credit of this contribution towards dealing with climate change in a positive way also goes to Tesla and Musk.

Another good news for Tesla comes from the S&P 500, the stock market index that approximates the stock values and performances of the 500 largest companies listed on the stock exchange index in the US. So recently, the S&P 500 has decided to add Tesla into its most influential index, and this has soared the stock value of Tesla’s shares higher.

Elon Musk does not draw a salary from Tesla. Instead, his salary is tied up with Tesla’s stocks, and as the company performs better and its stock value increases, so does Elon Musk’s net worth too.


Photo: Getty Images

Read next: Mark Zuckerberg’s 4 steps to follow your dreams and be successful