Elon Musk Just Became the Richest Person
Why the Stock Market Can Continue to Grow in 2021
Elon Musk is now the richest person in the world, as of today (January 7, 2021.) Musk passed Amazon founder Jeff Bezos to claim the title. Musk is now worth $185 billion compared to Bezos at $184 billion.
Musk’s rapid growth in net worth can be attributed to how much Tesla stock he owns. As CEO and co-founder of Tesla, Musk has most of his wealth in Tesla stock.
Tesla has had an unbelievable 2020, growing over 700%. Tesla has started 2021 right where they left off, as the stock has jumped from just above $700 to $800 in less than a week. Tesla’s market cap is now at $750 billion. They may soon become one of the few companies with a $1 trillion valuation.
Adam Jonas, a well-known analyst at Morgan Stanley, raised his price target on Tesla to $810. Sure enough, two days later, it looks like it will hit that target any minute. Tesla’s growth has been unbelievable, but its strong start to 2021 can be an indication of good things to come for the stock market as…
