Posted on 10/26/2021 1:43:38 PM PDT by SmokingJoe
Thanks to a blowout earnings report and a big car order by Hertz, Tesla’s market cap surpassed $1 trillion on Monday—and CEO Elon Musk has emerged as the richest person in the history of the world.
Forbes estimates Musk’s net worth to be $271.3 billion as of the market’s close on Monday—up some $41.7 billion from Friday’s close. For that, he can thank a nearly 13% jump in Tesla stock plus more than 16 million new stock options, worth $16.1 billion, awarded following Tesla’s latest earnings report.
Musk is in uncharted territory, headed toward $300 billion. For comparison, Amazon’s founder and former CEO Jeff Bezos became the richest person to ever appear on The Forbes 400 ranking of America’s richest people earlier this month, topping the list with an estimated $201 billion fortune. His net worth climbed as high as $212 billion when Amazon’s stock peaked in July—a full $59.3 billion less than Musk is worth now. Microsoft mogul Bill Gates briefly surpassed $100 billion in April 1999, during the dot-com bubble’s apex. Adjusted for inflation, that’s just over $165 billion today. When Forbes first began tracking billionaire wealth, in 1982, the richest person in America was shipping magnate Daniel Ludwig, worth $2 billion, or about $5.5 billion in today’s dollars.
(Excerpt) Read more at forbes.com ...
It would be wonderful if it were all that simple.
It basically is that simple. He’s supplied a major demand with Tesla and is completely changing humanity with Starlink, And eventually Starship. He’s already the #1 launch leader within 10 years or so with Falcon-9.
Only the most envious types would lambast his success.
Standard Oil, Hershey’s Chocolate, Tesla, etc.
All have similar patterns of development. Be first in a new field, hire scientists to perfect the product, stay ahead of competition, consistently exceed customers’ expectations and most important: be stubborn and persistent enough to fail your way to success.
I have had the luck to share the worlds of very wealthy people in my life. The one thing I've learned: Life's simple pleasures are by far the best. Anyone who thinks otherwise is a fool.
Yes indeed.
I wonder how he compares financially to Jakob Fugger?
If that comparison is even possible.
He will never catch Musk. That is a pipe dream.
I have no idea if Musk buys into the carbon global warming stuff or not. If he does he is an idiot in that regard. OTOH, if it is so the government gives people tax credits to buy one of his coal-powered cars - he is still pretty clever.
Shouldn’t the taxpayers have gotten stock-options in exchange for all the seed-money we gave him?
True. P.T. Barnum was also very clever. And there’s the fine line between being clever and being worthy of admiration.
The Eldon Tyrell, or Peter Weyland of our time.
Bill Gates is a con artist and a thief. Musk is a genius and a leader.
Elon Musk is Delos D. Harriman come to life.
Soon automobiles that run on gas will be illegal. Elon Musk saw the future. Tesla won the battle for EVs. Traditional automakers will struggle to switch to EVs.
He sold the moon....
Musk will rent rooms on Mars....seriously
What speed money did you “give him”?
You may want to read up on the history of Tesla.
Musk was not even there when Tesla was founded by two Silicon Valley guys who had previously founded another company together.
https://www.voltequity.com/post/the-clean-energy-for-america-act-and-its-potential-impact-on-tesla
But the buyers still get a tax credit ($7,500). One of the proposed versions of the credit is to give an extra $2,500 credit if built in the USA and another if it is union made. Crazy how much manipulation goes on to drive our behavior. (Tesla is non-union, so that’s a plus in my book.)
They just made $1.6 Billion in net profits in the just ended third quarter.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.