The South African tech wunderkind has etched his name in history again, surpassing Bill Gates to become the second richest man on earth, as Tesla market value exceeds $500bn.
Musk owns 20% stake of the company, putting his current net worth at $127.9 billion.
Considered as the world’s most valuable automaker, Tesla shares grew five times fold in the last 12 months. This milestone is welcomed by shareholders as their portfolio saw a huge profit boost.
The surge in market value is mostly attributed to the addition of Tesla to the S&P 500, which also saw Musk, 49, personal net worth reaching new heights.
According to Sky News, Musk who started the year as the 37th richest person, deposed Facebook founder Mark Zuckerberg in third position less than 10 days ago.
So how did a university dropout amassed such an unprecedented wealth before age 50, in a year considered the most controversial ever recorded?
It lies with the understanding of how investment and business scaling work. You cannot achieve these levels of success as an employee, regardless of how much your salary.
Okay, making $200 million a day during a pandemic like Musk maybe farfetch for most of us. But, we can all make smart investment to bring in infinite passive income.
Owning shares in the FAANG stock or the less volatile S&P 500 Index Tracker Fund is a great way to start.
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