Probably the year didn’t go any better financially for anyone.
The wealth of Elon Musk, the name behind innovative names such as SpaceX, Tesla and OpenAI, has increased 5 times during the pandemic.
According to the news of Business Insider, despite all this, the salary of the businessman is low compared to his wealth. Instead of salary or physical assets, Musk is enriched by the growth of the companies he owns. With Tesla’s successful performance this year, it’s no surprise that this breakout has happened. Financially, 2020 has not been any better for anyone.
Here’s a summary of how Musk got richer in 2020:
Business Insider looked at the charts of Musk’s wealth on the 1st and 15th of each month and examined Tesla’s shares. It is seen as the biggest resource for Tesla Musk in 2020. Tesla is worth $ 645 billion and has grown 689% since January 1. Musk owns 18% of the company.
But Musk, in his own words, “lacks cash.” It also doesn’t seem to value physical objects either. Here is a tweet that he stated that he would not host:
I am selling almost all physical possessions. Will own no house.— Elon Musk (@elonmusk) May 1, 2020
Something that is almost certain to continue is the growth of Tesla and SpaceX. The automaker aims to sell 500,000 products this year, with the ongoing trend in China and the US, according to analysts. It is said that there will be other investments in SpaceX, if this happens, the value of the company can increase to $ 92 billion.
Musk also considered the idea of bringing all his investments together. We will see what he will do in 2021.