Just rich people stuff.
Tesla’s shares have been skyrocketing for a while now, making it among the few companies to have $1 trillion net worth in the market. Of course, as Tesla shares rise, the CEO Elon Musk also benefits from the high tide and has now acquired more wealth than Warren Buffet and Jeff Bezos.
Last week, Elon Musk had just become the first person to be worth more than $300 billion and now Musk’s net share has risen to over $335 billion, which is just over a third short of a trillion dollars. This increase was the result of Tesla shares jumping some 8.5% on the same day. And when you have that kind of wealth, all the eyes are locked on you and hoping you use even a fraction of it for philanthropic endeavors such as helping solve world hunger. That’s what UN director of World Food Program David Beasley thinks Elon Musk should do with $6 billion dollars.
What’s so astonishing is that Elon Musk has become the richest man in a matter of years and is now 3 times richer than Warren Buffet, who became the richest person in the world back in 2008 with a mere net worth of $62 billion at that time. Now $62 billion seems nothing compared to $335 billion.
This news comes a week after Hertz, a car rental company announced that it was going to sign a massive deal with Tesla and order around 100,000 cars. But Musk announced on Twitter that no final contract had been signed yet and with this revelation, Tesla’s shares slid down as much as 5.2 percent. But the electric vehicle company is still up 56% in the last month alone and is now worth $1 trillion. What is Musk even going to do with all that money anyway?