Elon Musk's Wealth Tops $500 Billion, Tesla's Sales Surge Despite Political Ties
Elon Musk, the billionaire entrepreneur, hit a significant milestone in December 2020 when his wealth surpassed $400 billion, according to rankings. His fortune, primarily from Tesla and SpaceX shares, has since grown to an estimated $500 billion, making him the first person to achieve this feat, as reported by 'Forbes'.
Musk's companies, including Tesla, X, xAI, and Neuralink, have contributed to his wealth. Tesla, in particular, has been a significant driver, with Musk's compensation plan potentially allowing him to hold up to 25% of the company's shares.
Musk's political ties, notably his proximity to then US President Donald Trump, were speculated to benefit Tesla's sales in late 2020. However, his right-wing political views and association with Trump's administration later led to weakened sales for Tesla.
Despite this, Musk's plans for Tesla, such as robotaxis and robots, have recently convinced the stock market. Additionally, Tesla may have benefited from the expiration of state subsidies for electric car purchases in the last quarter.
Musk's fortune is estimated more strongly than others due to many of his companies not being listed on the stock exchange. His relationship with Donald Trump deteriorated in the summer of 2021, leading to threats of cutting off government funds for Musk's companies.
Elon Musk's wealth has reached unprecedented heights, driven by his innovative companies, particularly Tesla. His political ties and views have had both positive and negative impacts on his business, but his ambitious plans for Tesla continue to excite investors and the market.
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