Elon Musk is on his way to becoming the richest person in the world after an increase in Tesla’s shares raised his net worth to an impressive $ 184.5 billion.
The stock price of the bank rose 4.9 percent on Wednesday afternoon, just two days after ending the first trading day of the year, with a gain of 3.4 percent.
The increase means that Musk is now behind Amazon CEO Jeff Bezos by just $ 3 billion in equity, according to the Bloomberg Billionaires Index.
Bezos has held the title of richest person in the world since 2017 and is currently worth $ 187 billion.
This comes after Musk overtook Bill Gates as the second richest person in November, a significant leap for the entrepreneur who started 2020 in 35th position.
Musk has managed to increase his wealth by more than $ 146 billion in the past 12 months, despite the economic slowdown caused by the coronavirus pandemic.
Tesla reported a series of profitable quarters throughout 2020 and joined the S&P 500, establishing the company as one of the most valuable companies in the world.
Elon Musk is on his way to surpass Amazon CEO Jeff Bezos as the richest person in the world after an increase in Tesla’s shares raised his net worth to an astonishing $ 184.5 billion.
Tesla’s shares jumped 4.9 percent on Wednesday afternoon, raising Musk’s net worth to $ 184.5 billion
On Saturday, Tesla Inc. reported better-than-expected vehicle deliveries in 2020, driven by a steady increase in electric vehicle adoption, but it narrowly missed its ambitious year-round goal during a painful year for the automotive industry. global.
The company delivered 499,550 vehicles in 2020, above Wall Street estimates of 481,261 vehicles, according to Refinitiv data – but 450 units fall short of CEO Elon Musk’s goal of half a million vehicles.
Musk tweeted that he was ‘proud of the Tesla team for reaching this important milestone’.
“At the beginning of Tesla, I thought we (optimistically) had a 10% chance of surviving,” he said.
Musk’s wealth has skyrocketed in the past 12 months. He is now after Bezos for just $ 3 billion
On Twitter, congratulations poured in from supporters and optimistic investors, praising the electric vehicle maker for its stellar year, which challenged the broader auto industry trends of declining sales, quarterly losses and disruptions in the global supply chain.
But some online investor accounts criticized Tesla for saying it had achieved its guidance.
Tesla, in early 2020, said it would ‘comfortably exceed 500,000 units’ for the year, a target that has not changed despite the pandemic.
Chief Financial Officer Zachary Kirkhorn in October said Tesla was “aiming to achieve (its) original orientation for 2020”.
Tesla recently reported that the company’s deliveries for 2020 exceeded expectations, with 499,550 vehicles delivered
Musk accessed Twitter earlier this week to publicize the achievement and celebrate Tesla’s survival
Tesla has pinned hopes on new markets like Europe and Asia, with competition intensifying in its territory, as legacy automakers double their investments in the growing EV space.
Tesla’s push for delivery was supported by its new plant in Shanghai, the only plant currently producing vehicles outside California.
The automaker said production of the Model Y in Shanghai had started, with deliveries expected soon.
Bloomberg reports that 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.
In the United States, production of the Model Y takes place in Fremont, California, and deliveries to the vehicle began in March 2020.
Tesla, from Palo Alto, Calif., Said it delivered 180,570 vehicles during the fourth quarter, a quarterly record for the automaker, exceeding estimates for 163,628 vehicles.
The good sales news for Tesla ends a busy 2020 year for Musk.
In May, his company SpaceX launched its first manned flight, becoming the first private company to put someone into orbit.
He was also involved in controversy over his views on pronouns, which drew criticism from many, including his partner, Grimes, who gave birth to his son in May.