Tesla CEO, Elon Musk, Displaces Bill Gates To Become The Second Richest Man In The World by gandhibaba

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· @gandhibaba ·
$7.22
Tesla CEO, Elon Musk, Displaces Bill Gates To Become The Second Richest Man In The World
**Elon Musk, the CEO of the next generation automobile company known as Tesla, has displaced Bill Gates, the founder of Microsoft, to become the second richest man in the world. Driven by yet another spike in the shares of Tesla, data from Bloomberg billionaire index shows that Musk is now worth $128 billion, having added a staggering $100.3 billion to his wealth in 2020 alone, the highest feat ever attained by anyone in the Bloomberg billionaire index of the 500 richest people in the world.**
![ElonMuskandBillGates.png](https://i.imgur.com/Vud4pzh.png)
<sub>Nairametrics.com</sub>

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With this new shift in fortune,  Elon Musk is only behind Jeff Bezos, the founder of Amazon, in the list of the richest people in the world. Musk, who is also involved in the manufacturing of rockets for space exploration, has had most of his wealth coming from the tremendous success of Tesla, his automobile company that specialises in the production of electric vehicles. 

Musk reportedly owns one-fifth of the shares of Tesla, which is up about 500% in 2020 alone and is not showing sign of going down anytime soon. Tesla was founded in 2003 by a group of engineer who wanted to prove to the world that electric cars can be faster, safer, and even cheaper than gasoline-powered vehicles. Although Tesla is yet to overtake prominent automobile companies such as Toyota,  Volkswagen, General Motors,  etc in the volume of production, it has shown strong potential to be more profitable and perhaps successful in the future.  

In April 2019, Elon Musk tweeted that he was a fan of Dogecoin, creating some excitement within the Dogecoin community. Not too long ago too, in July 2020, Elon Musk tweeted a cryptic message in support of Doge Coin and the market soon reacted positively as the coin gained 14%. As for Bitcoin, Musk views has so far remained neutral. 



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@alokkumar121 ·
@tipu curate
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@tipu ·
<a href="https://tipu.online/curator?alokkumar121" target="_blank">Upvoted  &#128076;</a> (Mana: 0/6) <a href="https://tipu.online" target="_blank">Passive income</a> || <a href="https://mys.github.io/steem-apr" target="_blank">Compare APR</a>
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@gbenga ·
$0.08
For me, I will say that the stock market is overvalued and moreover, Tesla is still running at a loss so its valuation is dependent on the fact that people have free money to spend out and they want to spend the money on technology and innovation. Toyota made more revenue and great profit compared to Tesla which made losses in 2019. 

The only advantage that Elon Musk have at this period is that he can sell some of his stake for liquid cash on the stock market so he can use that to fund Tesla. It is no doubt that Tesla stocks are doing well but the stock does not determine the profitability of the company.

Another reason why Elon Musk or Jeff Bezos taken over Bills position isn't really a concern for me is because Bill started appearing on Forbes list from his youth as the youngest billionaire in 1987, ever since he has been able to diversify his portfolio thereby not having his asset determined by the number of shares he owned in Microsoft. One impressive move Bill made during the dotcom bubble was to ell a large portion of his stocks which gave him access to liquid cash when the recession came. If Elon Musk can do the same, selling off a little portion of his holding so he can be able to diversify his wealth, it will be a good move because the market is all green during a recession, thanks to stimulus checks and bail outs.
👍  
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@gandhibaba ·
Thanks for the very detailed analysis here. This can conveniently pass as a sequel to this post. I really think that Musk should do some cash out and have his resources diversified, as you say. Thanks for stopping by.
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@luckyali ·
$0.08
hi there 
i've heard that news from twitter. of course tesla played major role here This is why it is become possible.  Well i am glad to hear that he has interest in crypto and this is positive news for all of us. 
Great post. 
looking forward to see more such posts.
👍  
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@gandhibaba ·
Thanks for sharing your thoughts.  Let's hope that he can get more involved with crypto in the coming days. Cheers!
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