Where on one side, 2020 wasn’t a decent year for the whole world, there was one one who earned over $150 billion dollars during this one year.
Elon Musk who became the world’s richest man on 7Th January, 2021.
At the start of 2020, his net worth was $27 billion which made him the world’s 35th richest person. But in one year, his net worth increased to approx $190 billion and what’s interesting is that he failed to even do anything special this year. He did special…he does special once a year. he’s quite hard working man. But I mean that he failed to do anything extra or different in 2020 that he didn’t liquidate 2019, 2018, 2017 or 2016. Had he not done anything the least bit this year, even then the probabilities of him becoming as rich as he has become were quite high.
How did it become possible?
What is the key behind his success?
Let’s get to understand the story of Elon Musk .
Think about it- once you are a billionaire, then how does one earn your money? It isn’t that you simply do some work and you get a salary reciprocally and you retain saving that salary in your checking account until it becomes billions of dollars. this is often next to impossible because one billion is such a giant amount that earning money through normal ways specified you earn one billion is next to impossible.
What happens in most cases is that billionaires are owners of some valuable company they’re the owner of such an organization which has great value in the world. as an example, Mark Zuckerberg is that the owner of Facebook, Jeff Bezos is that the owner of Amazon, Gates is that the owner of Microsoft. Similarly, Elon Musk is that the owner of Tesla which may be a company that manufactures electric cars. The wealth of of these people is interlinked with their companies. after all it’s to such an extent that these people can both earn and lose billions of dollars during a day, depending upon the present value of their company within the share market. If their company’s share price climbs up then they become rich instantly. If the share price of their company falls then they’ll lose billions of dollars instantly.
Something similar happened with Tesla.
In 2020, Tesla’s stock price increased 720% in a very year and this can be the most reason for Elon Musk becoming the World’s richest man. What is surprising that….READ MORE.
