Elon Musk is on track to become the richest person in the world after an increase in Tesla shares raises its net worth to a whopping $ 184.5 million.
The stock price of the vehicle marker jumped 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 boost means Musk is now tracking Amazon CEO Jeff Bezos for just $ 3 billion in net worth, according to the Bloomberg billionaire index.
Bezos holds the title of richest person in the world since 2017 and is currently worth $ 187 billion.
It comes after Musk overtook Bill Gates as the second richest person in November, a significant leap for the entrepreneur who started 2020 in 35th place.
Musk has managed to increase his wealth by more than $ 146 billion in the last twelve months, despite the economic recession caused 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 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 a whopping $ 184.5 million.
Shares of Tesla had jumped 4.9% on Wednesday afternoon, bringing Musk’s net worth to $ 184.5 million
On Saturday, Tesla Inc. reported vehicle deliveries 2020 than expected, driven by a steady increase in electric vehicle adoption, but narrowly lost its year-round ambitious target for a year of punishment for the auto industry world.
The company delivered 499,550 vehicles during 2020, above Wall Street estimates of 481,261 vehicles, according to Refinitiv data, but 450 units are moving away from CEO Elon Musk’s goal of half a million vehicles.
Musk tweeted that he was “proud of the Tesla team for achieving this important milestone.”
“At the start of Tesla, I thought we had (optimistically) a 10% chance of surviving,” he said.
Musk’s wealth has increased in the last twelve months. It now tracks Bezos for just $ 3 billion
On Twitter, there were congratulations from supporters and bullish investors who praised the electric vehicle maker for its stellar year, which has challenged the automotive industry’s broadest trends of falling sales, quarterly losses and downtime. the global supply chain.
But some online investor accounts criticized Tesla for saying it had gotten its guidance.
Tesla in early 2020 said it would “comfortably exceed 500,000 units” for the year, a target it has left unchanged despite the pandemic.
Chief Financial Officer Zachary Kirkhorn in October said Tesla “intended to achieve (its) original orientation 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 announce the performance and celebrate Tesla’s survival
Tesla has created hopes in new markets such as Europe and Asia, with competition intensifying at home, as legacy carmakers double their investments in the growing EV space.
Tesla’s delivery momentum has been backed by its new factory in Shanghai, the only plant that currently produces vehicles outside of California.
The vehicle manufacturer said production of the Model Y in Shanghai has begun, and that it is expected to be delivered soon.
Bloomberg reports that the Model Y will cost 339,900 yuan ($ 52,074) in China when sales in the country begin.
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, based in Palo Alto, California, said it delivered 180,570 vehicles during the fourth quarter, a quarterly record for the electric vehicle maker, surpassing estimates of 163,628 vehicles.
The good news of Tesla sales ends in 2020 occupied by Musk.
In May, his company SpaceX launched its first manned flight, becoming the first private company to take someone into orbit.
He was also embroiled in controversy over his views on pronouns, which drew criticism from many, including his partner, Grimes, who gave birth to his son in May.