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Top billionaires: Is Elon Musk still the richest man in the world
You must have been wondering if Elon Musk is still the richest man in the world. Worry no more, as will discuss in this article, all…
You must have been wondering if Elon Musk is still the richest man in the world. Worry no more, as will discuss in this article, all you need to know about the richest man in the world.
Some weeks ago, which is no doubt one of the biggest 3-week declines in the history of the Bloomberg Billionaires Index, Elon Musk lost about $50 billion. This was a result of a tweet he said plans to sell 10% of his company shares. Tesla’s stock plummeted 12% as investors rushed to get ahead of the CEO’s selloff.
The popular and highly respected billionaire’s wealth plummeted significantly as Tesla shares declined. The overall market had a rough day, likely contributing to the stock’s slide with the car marker share price dipping by 3.4%.
Who is Elon Musk?
Ambitious entrepreneur Elon Musk is the charismatic co-founder of PayPal and Tesla, as well as the founder of SpaceX, Neuralink, and The Boring Company. He serves as CEO of Tesla and CEO/lead designer of SpaceX. He was born June 28, 1971, in Pretoria, South Africa.
Growing, Mujsk displayed tremendous interest in computers and entrepreneurship. At age 12 he created a video game and sold it to a computer magazine. However, in 1988, after obtaining a Canadian passport, Musk left South Africa because he was unwilling to support apartheid through compulsory military service.
According to Britannica, Musk was long convinced that for life to survive, humanity has to become a multiplanet species. However, he was dissatisfied with the great expense of rocket launchers. In 2002 he founded Space Exploration Technologies (SpaceX) to make more affordable rockets.
Its first two rockets were the Falcon 1 (first launched in 2006) and the larger Falcon 9 (first launched in 2010), which were designed to cost much less than competing rockets. A third rocket, the Falcon Heavy (first launched in 2018), was designed to carry 117,000 pounds (53,000 kg) to orbit, nearly twice as much as its largest competitor, the Boeing Company’s Delta IV Heavy, for one-third the cost.
Is Elon Musk still the richest man in the world
However, the question now arose if Elon Musk is still the richest man in the world with such a huge loss that make up some peoples net worth. As of today, Elon Musk’s wealth is at $242.6bn.
Similarly to Elon, Facebook founder and Meta CEO Mark Zuckerberg briefly dropped out of the world’s wealthiest ten billionaires this week, after Meta suffered a historic market rout on Wednesday, wiping out $230 billion of the company’s value and setting the record for the largest single-day trading loss for any U.S. company, ever.
Zuckerberg, who owns a 13% stake in Meta, saw his personal wealth collapse in line with his company’s. As markets opened Thursday, Zuckerberg’s net worth hit a low of $92 billion, tanking from $120.6 billion the day before. According to Bloomberg, the $29 billion crash dragged Zuckerberg out from the ranks of the world’s ten richest people for the first time since 2015.
Despite being extremely wealthy, Elon Musk owns little real estate or other valuables, opting instead for a modest lifestyle. The South African-born billionaire’s main residence is a small, fold-out house located at SpaceX’s base in South Texas. It has the size of a one-bedroom apartment.
Musk didn’t start Tesla, but he invested heavily in it early on. Today, he is the largest shareholder in Tesla, and he recently reported that his money entered first and left last. Musk plans to keep Tesla stock for many years despite selling some amount for tax bills.
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