Skip to comments.Elon Musk becomes 4th richest person in the world after historic stock surge
Posted on 08/20/2020 10:19:12 PM PDT by fireman15
Elon Musk has become the fourth-richest person in the world, amassing a fortune worth nearly $85 billion.
The mark was crossed on Monday after shares of Tesla Inc. surged more than 11%, boosting the affable tech exec's net worth by nearly $8 billion, according to Bloomberg.
At a net worth of $84.8 billion, Musk trails only Facebook CEO Mark Zuckerberg, Microsoft co-founder Bill Gates and Amazon CEO Jeff Bezos on Bloomberg's Billionaires Index.
Much of Musk's net worth is tied up in his electric car maker Tesla, which has seen its shares surge more than 300% this year.
The car marker has remained profitable in recent quarters despite the impact of the coronavirus pandemic. Tesla sold more than 179,000 cars during the first half of 2020, outpacing sales for its nearest three competitors in the electric car market combined, according to Electrek.
(Excerpt) Read more at foxbusiness.com ...
Yeah he said some things that were more in line with our thinking...he may not be a conservative but these days i’ll take what we can get
I had some hope for zuck at once but he caved
And I had no idea until only the past month or so that Gates was a monster.
I almost (not quite) feel a little bad about making fun of Teslas and the people who have bought them with past massive governement subsidies.
?At least the guy does not seem to be a total leftist tool like the three richer guys, B. Gates, Mark Zuckerberg, and Jeff Bezos”.
Because Musk employs a great many people that work with their hands. Designing cars, setting up factories, designing rockets, and setting up those factories, etc...employing scientists, engineers, technicians, heavy equipment operators...gives one a totally different perspective.
That said, Tesla is one seriously overpriced stock. The market presence in the big picture of the auto industry does not justify that stock price. Not even close.
There were a lot of subsidies!!
Either he’s a great talker or..I don’t know!
He is definitely a piece of work... Making billions of dollars convinces most people that they are vastly superior to everyone else. So they end up believing that they know better in areas which they have basically no clue.
Yay! China Rocks! We gave him billions, but China has promised him more!
Elon Musk says China rocks while the U.S. is full of complacency and entitlement
Musk replied: China rocks in my opinion. The energy in China is great. People there theres like a lot of smart, hard working people. And theyre really — theyre not entitled, theyre not complacent, whereas I see in the United States increasingly much more complacency and entitlement”
Musk is not a great talker. If you watch any of his public speaking events this is quite obvious. Musk is a visionary dreamer. He believes in his vision of things with all of his soul. This is what captivates/fascinates people with him. That and his drive and ambition.
People of all levels of social status from poor to very wealthy are attracted to such people as Musk.
Why is he even involved in the whole vaccine thing?
or population control?
and God knows what else?
Seems like Elon Musk had swallowed the red pill when he saw what COVID-19 restrictions were doing to tesla factory in California. Even dared the government to arrest him.
People who believe that electric cars are the future because of “climate change” are funneling their money at Tesla because every other investment in “alternative energy” has proved to be massive losers whenever government subsidies and mandates ate taken out of the equation. They are the only big game in town in that sector.
Gasoline prices minus massive taxation have been at historic lows while the price of electric rates have not and are not expected to go down. A Tesla minus government subsidies and the value of virtue signaling is not a smart use of funds at this time.
or population control?
and God knows what else?
Because in his own mind his wealth means that he is not a mere mortal; he is a god.
god’s gonna be shocked when he gets cancer or a heart attack or just grows old and realizes his last day is near.
I hear these guys are spending billions to find some way to extend their lives
You think hes rich now? Just wait until he brings back all that alien technology from Mars!
Tesla stock is massively overpriced. As is Apple , Facebook and a whole lot of tech firms out there.
Renault, Toyota and Volkswagen all make over 10 million cars a year. Tesla is not even making a million cars yet. Is Tesla worth a massive $373 Billion? Heck no.
That all depends on how you look at Tesla. If you look at it as strictly a car company, then you can be shocked at the high valuation. They are a technology company, selling cars is a sideline for Musk. Indeed, he has stated wishes to not sell cars in the future, but to push his autonomous robotaxi venture. Where he will be making money is with his Semi truck sales to fleet buyers. Tesla is patenting a lot of technology that other car makers will be licensing from Tesla. They also are ahead in battery development, A.I. and robotics, worldwide satellite internet (StarLink which if spun off will make a splash with it's IPO). The stock is expected to soar anywhere from 6,000 to 16,000 dollars a share equivalent in the next 5 to 10 years (pre-split value, they're splitting 5 for 1 this week). They have over 3/4 million pre-orders just for their trucks, waiting for completion of the Austin Gigafactory to build the trucks. So they're not going bust anytime soon. They don't make a lot of vehicles now, but they're profitable and growing, unlike American carmakers which are shrinking in sales and losing money.
I had him pegged when he touted Windows. That was the end for me.
Correction: StarLink is developed by SpaceX, run by Musk. There is technology cooperation between SpaceX and Tesla.
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