International
21:58 21 October 2021
Post by: WBJ

Elon Musk already has $0.25 trillion but may become the first-ever trillionaire

Elon Musk already has $0.25 trillion but may become the first-ever trillionaire
Source: Photo by Steve Jurvetson on Flickr

Tesla posted record financial results in the last quarter – with revenues of almost $14 billion it earned $1.6 billion net profit. The company has recently been increasing car sales by 20 percent from quarter to quarter, and the gross return on their production exceeds 30 percent, and all this during the semiconductor crisis devastating the automotive industry. The stable valuation of Tesla makes Elon Musk the richest man in the world, with Amazon boss Jeff Bezos far away, or about $50 billion, behind him.

As calculated by Bloomberg, the ownership of Elon Musk has increased by $72 billion only since the beginning of this year. This is more than twice as much as the wealth of the richest Russian oligarch, Leonid Michelson.

Analysts from the investment bank Morgan Stanley say that Tesla is just a prelude and that Elon Musk can earn much more from SpaceX, a company that is to commercialize the conquest of space on a large scale.

"Many customers have told us that if Elon Musk becomes the first trillionaire, it will not be because of Tesla. Others say SpaceX will become the highest-rated company in the world," Adam Jones, an analyst at the bank, said.

(bizblog)


tesla
amazon
jeff bezos
elon musk
morgan stanley
leonid michelson
adam jones

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