Elon Musk is about to become the richest person in the world, after an increase in Tesla shares increased its net value to 184.5 billion dollars.
The share price of the car marker rose by 4.9% on Wednesday afternoon, just two days after the end of the first trading session of the year, with a gain of 3.4%.
The increase means that Musk is now tracking Amazon CEO Jeff Bezos with just $ 3 billion in net worth, according to the Bloomberg Billionaires Index.
Bezos held the title of the richest person in the world since 2017 and is currently worth $ 187 billion.
It comes after Musk overtook Bill Gates as the richest person in November, a significant leap for the entrepreneur who started in 2020 in 35th place.
Musk has managed to increase his fortune by more than $ 146 billion in the last 12 months, despite the economic recession brought about 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 businesses in the world.
Elon Musk is well on his way to surpassing Amazon CEO Jeff Bezos as the richest person in the world after an increase in Tesla shares raised his net worth to $ 184.5 billion.
Tesla shares rose 4.9 percent on Wednesday afternoon, bringing 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 easily missed the ambitious target throughout the year during a year of punishment for the global car industry.
The company delivered 499,550 vehicles in 2020, exceeding Wall Street estimates of 481,261 vehicles, according to Refinitiv data – but 450 units are avoiding CEO Elon Musk’s goal of half a million vehicles.
Musk wrote on Twitter that he was “proud of the Tesla team for reaching this major stage.”
“At the beginning of Tesla, we thought we had (optimistically) a 10% chance of surviving at all,” he said.
Musk’s wealth has increased over the past 12 months. He is now pursuing Bezos with only $ 3 billion
Congratulations from supporters and rising investors spread on Twitter, praising the electric vehicle maker for its stellar year, which defied the broader auto industry trends of declining sales, quarterly losses and supply chain disruptions. globally.
But some online investor accounts have criticized Tesla for saying it has met its guidelines.
Tesla, in early 2020, said it would “comfortably exceed 500,000 units” for that year, a target it left unchanged despite the pandemic.
Chief Financial Officer Zachary Kirkhorn said in October that Tesla “aims to achieve the original (guidelines) by 2020.”
Tesla recently reported that the company’s deliveries for 2020 had exceeded expectations, with 499,550 vehicles delivered
Musk took to Twitter earlier this week to promote Tesla’s achievement and survival
Tesla has created hopes in new markets, such as Europe and Asia, with competition intensifying in its home turf as older carmakers double their investment in the booming EV space.
Tesla’s delivery force was supported by its new plant in Shanghai, the only factory that currently produces vehicles outside of California.
The automaker said production of the Model Y in Shanghai has begun, 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 delivery of the vehicle began in March 2020.
Tesla in Palo Alto, California, said it delivered 180,570 vehicles in the fourth quarter, a quarterly record for the electric vehicle manufacturer, exceeding estimates of 163,628 vehicles.
The good sales news for Tesla concludes a lively 2020 for Musk.
In May, his company SpaceX launched its first manned flight, becoming the first private company to bring someone into orbit.
He has also been embroiled in controversy over his views on pronouns, which have drawn criticism from many, including his partner, Grimes, who gave birth to his son in May.