Elon Musk Once Again Pips Bernard Arnault To Become The World's Richest Man
Elon Musk is once again the world's richest person. According to a Bloomberg Billionaires tally, Tesla CEO's worth now stands at a staggering $192 billion against LMVH CEO Bernard Arnault's $187 billion. These two centibillionaires have been taking turns for the first spot for months now.
Arnault surpassed Elon Musk in December last year when his wealth jumped due to a boom in luxury goods that helped the LMHV's stock price. However, Musk again topped the charts when Arnault's net worth dropped following a dip in LMVH's stock last Wednesday.
Elon Musk's fortune is mostly linked to one of his businesses Tesla, the electric automaker. Musk owns a whopping 13% of the company. Musk is also the CEO of SpaceX and owner of Twitter. Musk reportedly gained more than $55.3 billion this year largely because of Testa Inc. which comprises 71% of his fortune.
What Are Elon Musk's Other Ventures?
The SpaceX and Tesla CEO is also the founder of The Boring Company, and co-founder of Neuralink and OpenAI. He also bought Twitter last year. Often compared to MCU's Tony Stark Aka Iron Man, Musk is the powerhouse of today's global business landscape.
Elon Musk's Early Life
Elon Reeve Musk was born in 1971, in Pretoria, South Africa. He was the eldest of the three siblings. Following his parents' divorce, Musk moved in with his father, who he later described as "a terrible human being...almost every evil thing you could possibly think of, he has done", he told Rolling Stones.
He has also been open about how he was bullied as a child. "They got my best friend to lure me out of hiding so they could beat me up. And that hurt,” Musk said. “For some reason, they decided that I was it, and they were going to go after me nonstop. That’s what made growing up difficult. For a number of years, there was no respite. You get chased around by gangs at school who tried to beat the (expletive) out of me, and then I’d come home, and it would just be awful there as well." he said as per The Washington Post.
How Did Elon Musk Get So Rich?
His jump in wealth is directly linked to his ownership stake in the electric carmaker Tesla. But how did he reach here? Musk sold the first commercial software game, Blastar, developed by him in 1983 for $500. In 1995, he launched a city guide called Zip2, which immediately become popular. Musk sold the company for $300 million four years later.
Dollars Made Him More Dollars
Musk used the money he made from Zip2 to launch X.com, an online payment platform that merged with another start-up and formed Paypal. In 2002, PayPal was bought by eBay making Musk almost $1.5 billion. He then launched Tesla, SpaceX, and SolarCity. He also owns the Boring Company, which makes tunnels and transportation systems.
What Is Elon Musks Contribution to The Society?
Elon Musk has been actively designing and investing in things ever since he was a teenager and his inventions have changed the 21st-century world.
Musk and Mars
Musk designed rockets that could be reused. His main motto was to enable the colonization of Mars and since then the company has flown six cargo resupply missions to the International Space Station, as per CNBC.
Hyperloop
This is a transportation system first proposed by Musk in 2013, which is still in its prototype stages. The rail system is planned to work in a tube with extremely low pressure.
Web-Based Phone Calls
Musk conceived this idea in 1997, which was a less intricate version of today's video calling. Look where we are today!