Elon Musk was the richest man in the world for about four days, overtaking Amazon CEO Jeff Bezos for the No. 1 slot Thursday before Tesla stock fell on Monday and squandered nearly $ 14billion in it. the value of the company.
Musk net worth recorded $ 188.5billion on Thursday thanks to a 6 percent rise in Tesla stock on Thursday.
The day before, the electric car maker saw its shares plummet more than 4.6 percent.
At the time, Bezos’ net worth was estimated at $ 187 billion.
But on Monday, Tesla stock fell sharply. Shares of Tesla fell nearly 8 percent Monday, the biggest one-day decline since late September.
Elon Musk (left) was the richest man in the world for about four days, overtaking Amazon CEO Jeff Bezos (right) for slot No. 1 on Thursday before Tesla stock declined on Monday and he was eliminated to nearly $ 14billion in company value.
Musk net worth recorded $ 188.5billion on Thursday thanks to a 6 percent rise in Tesla stock on Thursday. But on Monday (in turn), Tesla stock fell sharply. Shares of Tesla fell nearly 8 percent Monday, the biggest one-day decline since late September
At noon on Tuesday, however, Musk, 49, looks set to regain the title of the richest man in the world. Shares of Tesla rose more than 5 percent while Amazon stock (above) fell just under half a percentage point as of midday Tuesday
According to Forbes, Musk’s net worth fell to $ 176.2billion, nearly $ 6billion less than the value of the 57-year-old Bezos.
At noon on Tuesday, however, Musk, 49, looks set to regain the title of the richest man in the world.
Shares of Tesla rose more than 5 percent while Amazon stock fell just under half a percentage point as of midday Tuesday.
If these moves continue before the end of trading on Wall Street on Tuesday, Musk will once again be the richest person in the world, according to Forbes billions administrator.
In the brief moments that Musk held the title of richest man, he seemed to wipe out the trophies Thursday morning.
The Twitter account for Tesla owners in Silicon Valley wrote: ‘@elonmusk is now the richest man in the world at $ 190 billion.’
In one tweet, Musk wrote: ‘How weird.’ He followed that tweet with: ‘Well, back to work …’
Musk took over Bill Gates as the second richest man in November, a huge leap for the entrepreneur who started off 2020 at level 35.
French fashion mogul Bernard Arnault, founder of billion LVMH, and his family has the third largest net worth in the world – $ 151.4 billion, according to Forbes.
Gates, co-founder of Microsoft and Philanthropy, is a distant quarter at $ 121.3billion.
Musk has a 20 percent stake in the carmaker and about $ 42 billion of undeveloped paper profit on retail stock options, according to Bloomberg.
It also has a 48 percent stake in its aerospace company, SpaceX.
French fashion mogul Bernard Arnault, founder of a billion LVMH, and his family has the third largest net worth in the world. Pictured: Alexandre, second from left, with his brother Frederic, Bernard’s father, Delphine’s sister and model Bella Hadid (left) at the 2020 Louis Vuitton Menswear F / W show in Paris
Musk has managed to increase its wealth by more than $ 146billion in the last 12 months, despite the economic downturn brought on by the coronavirus pandemic.
Tesla announced a series of profit margins through 2020 and entered the S&P 500, establishing the company as one of the most valuable businesses in the world.
On Saturday, Tesla announced better-than-expected 2020 vehicle delivery delivery, driven by a steady rise in electric vehicle adoption, but almost missed its ambitious full-year goal during a year of punishment for the global automation industry.
The company delivered 499,550 vehicles in 2020, above Wall Street estimates of 481,261 vehicles, according to Refinitiv data – just 450 shy units of CEO Elon Musk’s target of half a million vehicles.
Musk tweeted that he was ‘proud of the Tesla team for achieving this huge milestone’.
‘At the beginning of Tesla, I thought we had (hopefully) a 10% chance of survival at all,’ he said.
Tesla said in early 2020 it would be ‘comfortably above 500,000 units’ for the year, a target it has left unchanged despite the pandemic.
Chief Financial Officer Zachary Kirkhorn said in October that Tesla was ‘aiming to achieve (its) original 2020 guidance’.
Tesla has won hopes in new markets such as Europe and Asia, with growing competition in its home turf as legacy makers double their investments in the successful EV space.
Tesla’s delivery push has received support from its new factory in Shanghai, the only plant currently making vehicles outside of California.
The manufacturer said production of Model Y in Shanghai has begun, with delivery expected soon.
Bloomberg reports that the Model Y will cost 339,900 Yuan ($ 52,074) in China when sales begin in the country.
Meanwhile, the Model Y Performance car will cost 369,900 Yuan ($ 56,620) in China.
Tesla announced a series of profit quarters through 2020 and entered the S&P 500, establishing the company as one of the most valuable businesses in the world.
Despite being the new title keeper, Musk seemed to wipe out the news on Twitter Thursday morning. In one tweet, Musk wrote: ‘How weird.’ He followed that tweet with: ‘Well, back to work …’
In the United States, production of the Model Y takes place in Fremont, California, and delivery of the vehicle began in March 2020.
California-based Tesla Palo Alto said it delivered 180,570 vehicles in the fourth quarter, a quarterly record for the electrician, surpassing estimates of 163,628 vehicles.
Musk has made great strides after his fall in 2018, when U.S. security regulators called on Tesla’s boss to resign as chairman and pay $ 20million to settle costs he defied -investor with false claims on Twitter in August about a possible bid to take the company privately, which was quickly dismissed.
Musk was also embroiled in a false public fight over his views on a British cave, which had mocked Tesla’s boss’s offer for a small submarine to cater for young footballers trapped in a cave in Thailand save the summer of 2018.
The caveman, Vernon Unsworth, rejected Musk after the Tesla boss gave him the name ‘pedo guy’ on social media, but a California jury in December 2019 ruled it was not a disgrace.
Musk put those controversies behind him last year as Tesla significantly increased production at car factories in California and Shanghai and moved on to build new factories in Texas and Germany.
Tesla viewers don’t think Musk will be able to match the big valuation increase in 2021, but they expect continued improvement as the manufacturer adds production capacity and pushing the envelope on new technologies, including autonomous autos.
However, a number of analysts believe that the stock is overvalued, even if they praise the company.
‘Tesla’ s performance in 2020 was impressive, but not as dramatic as the rise in its shares, which we believe is undervalued, ‘said a note earlier in the week from JPMorgan Chase, which has an ‘overweight’ on the balance.