Is Elon Musk's net worth more than the GDP of Pakistan? Details inside
According to rumours, the entrepreneur is on the verge of surpassing $300 billion in net worth, making him the first individual to do so. His current net worth is $292 billion.
Elon Musk, the world's richest man and the celebrity CEO of Tesla, now possesses more money than Pakistan's whole Gross Domestic Product. According to rumours, the entrepreneur is on the verge of surpassing $300 billion in net worth, making him the first individual to do so. His current net worth is $292 billion. In stark contrast, the GDP of Pakistan, which has a population of roughly 220 million people, is expected to be around $280 billion (at current market values) in 2020-21, according to projections. Musk, the celebrity CEO, increased his fortune by $36 billion on October 25. This follows the revelation that Hertz Global Holdings Inc had ordered 100,000 Tesla electric vehicles.
The news accounted for the most profits in a single day in the Bloomberg Billionaires Index's history. Tesla's stock increased by up to 13% on Monday. In the Bloomberg Billionaires Index, Elon Musk is now about $100 billion richer than Amazon CEO Jeff Bezos, who previously held the top spot. On Wednesday, US-based writer Edward Luce brought the comparison between Elon Musk's current net worth and Pakistan's GDP to light.
To put it another way, Musk's net worth is now more significant than the market capitalization of Toyota, the world's second-largest manufacturer, which is currently valued at roughly $283 billion. The electronic vehicle's market capitalization surpassed $1 trillion as Tesla Inc's shares soared after the news. Tesla is now the first carmaker to join the exclusive club of trillion-dollar corporations. Apple Inc, Amazon.com Inc, Microsoft Corp, and Alphabet Inc, which controls Google, are members of this club. According to Bloomberg, Elon Musk derives up to two-thirds of his fortune from the electric car firm he co-founded in 2003.
The majority of Elon Musk's net wealth, however, is linked to Tesla shares and options. As a result, some experts feel that the automaker's stock is overpriced, according to reports.
Despite this, Tesla CEO Elon Musk has gained a stunning $119 billion to his wealth this year. This comes on the heels of a recent increase in Tesla stock, performing strongly in recent weeks. Tesla's stock price has risen 45 per cent this year, at a time when investors are still interested in purchasing electric automobiles.However, in a New York Times piece published on Wednesday, Tesla was described as "quite different" from other auto firms. According to the New York Times, Tesla's sales prediction is approximately $6 billion, roughly one-fifth of Amazon's earnings.
In terms of Elon Musk, he just added $10.6 billion from SpaceX, the rocket firm he created in 2002. According to sources, SpaceX's worth has lately soared to $100 billion, making it the world's second-most expensive private firm. This massive value stems from the company's recent deal with new and current investors to sell up to $755 million in stock from insiders for $560 per share.