Elon Musk has overtaken Jeff Bezos to turn into the world’s richest person, having seen his wealth rise from $25 billion to just about $200bn in lower than a yr.
The billionaire polymath is best generally known as the boss of electrical automobile company Tesla and personal rocket firm SpaceX, nevertheless he also heads brain-tech startup Neuralink and The Boring Company, which goals to “solve traffic” in cities by digging tunnel networks.
Before any of those ventures, Musk gained notoriety in Silicon Valley because the co-founder of online payments platform X.com, which went on to turn into PayPal.
Each latest project has been financed, at the very least partly, by funds generated from previous business successes, with each latest effort becoming ever more ambitious.
Ultimately, Musk hopes to rework humanity right into a multi-planetary species by establishing a self-sufficient colony on Mars, while concurrently solving a number of the biggest challenges back on Earth, including climate change and the perceived threat from advanced artificial intelligence.
After overtaking Bezos on 7 January to say the title because the world’s richest person, Musk reiterated his pledge to make use of his wealth for what he believes is the greater good for the world.
“You must ask why I might want money. The explanation shouldn’t be what you’re thinking that. Little or no time for recreation. Don’t have vacation homes or yachts or anything like that,” he stated in a brief Twitter thread republished from 2018.
“About half my money is meant to assist problems on Earth and half to assist establish a self-sustaining city on Mars to make sure the continuation of life (of all species) in case Earth gets hit by a meteor just like the dinosaurs or WW3 happens and we destroy ourselves.”
Musk also donates periodically to charity, putting out a call on Twitter this week for ideas on “ways to donate money that actually make a difference”.
In May 2020, Musk tweeted that he planned to sell “just about all physical possessions” – a promise he delivered on before 2021 by selling three of his California homes for a combined total of $41 million.
He has since moved to Texas, where he pays no state income taxes, to be able to be closer to the event of SpaceX’s Mars-bound spacecraft Starship.
In 2018, Musk revealed that he planned to finance SpaceX’s Mars plans by selling a “major” stake in Tesla sooner or later in the long run. On the time, Tesla shares were value around $60. Today, they’re value near $900.
Tesla’s fortunes have largely driven Musk’s own net value, which is now such as the annual GDP of a small-to-medium sized country.
If Musk’s wealth was ranked alongside the GDP of each country on this planet, he can be the fiftieth richest country on this planet, in keeping with figures from the International Monetary Fund.
Calculated in one other way, if Musk’s net value was distributed evenly amongst all 328 million residents within the US, everyone would receive roughly $600 – the identical amount the US government handed out as a stimulus check throughout the pandemic.