Tesla CEO Elon Musk is ranked as the world's wealthiest person by both Forbes and the Bloomberg Billionaires Index, but how did he get so rich?
Tesla CEO Elon Musk, ranked as the world's wealthiest person by both Forbes and the Bloomberg Billionaires Index, last year explained that the secret to his wealth is simple:"I own 20% of a company that became very valuable.", hasn't always been at the top of the heap. In early 2020, his wealth was just one-tenth of where it stands today, with his then-fortune of $25.6 billion placing him below the likes of Amazon CEO Jeff Bezos and Facebook CEO Mark Zuckerberg.
Musk's remarkable jump in wealth is linked to his ownership stake in electric car maker Tesla, and to a lesser extent his holdings in ventures including Space X and Boring Company. Tesla, though, has been his primary vehicle for wealth creation, with the company's stock surging more than 1,100% in the past five years as investors rewarded the company for its huge growth in vehicle sales.
He added,"My sort of impression was that you shouldn't take money off the table — or stock off the table — that a captain should go down with their ship." Musk's wealth has ebbed and flowed over the past few years. At his peak, Musk was worth $340 billion, according to the Bloomberg Billionaires Index. That occurred in November 2021, when Tesla's stock price hit a record high of $414.50 a share, according to FactSet. Since then, the car maker's stock has dropped by about one-third.Although Musk said he doesn't believe in selling his shares, he has sold billions of dollars' worth of Tesla stock in the past year.
He also sold more stock in 2022 ahead of a court battle with Twitter. As of mid-August, Musk had sold
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