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Elon Musk Is Now The Richest Man In The World As Tesla Stocks Soar To New Height
3 years ago

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Elon Musk is currently the world’s
richest man, according to Bloomberg’s
Billionaires Index.
After Thursday’s trading sessions at
the world’s most influential economy,
the 50-year-old entrepreneur
recorded daily gains of about $3.52
billion to be worth $196 billion.
Tesla’s share price increased 2.2% on
Thursday, contributing to the
billionaire’s record gains. The value
of the world’s most valuable car
company currently stands at $715
billion with about 123% yearly
growth.
Global investors have piled into
shares of the Palo Alto, California-
based company focused on
manufacturing electric sedans and
sports utility vehicles, on some
optimism that global government
policies are likely to encourage the
adoption of electric vehicles.
Besides news about Tesla’s strong
deliveries from its China factory, the
stock’s upward trend may have been
triggered by a generally bullish day
for growth stocks.
More than 50% of Tesla’s vehicle
deliveries are expected to increase
each year. China, where Tesla’s
factory contributed to nearly 40% of
the company’s installed manufacturing
capacity in Q2, is critical to achieving
this target.
As of February 2020, Elon Musk owns
20% of Tesla, and he is entitled to
receive billions more from his payroll
agreement based on Tesla stock.
As of December 2020, he had loans
from three U.S. banks totalling
roughly $500 million.

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As of the beginning of last year, the
fifty-year-old tech tycoon was not
among the top 50 richest people. He
passed Warren Buffett as America’s
seventh-richest person in July of that
year. His wealth has since increased,
and he was ranked second only to Bill
Gates in November.
His current net worth equates to 112
million troy ounces of gold or 2.77
billion barrels of crude oil.

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