Prior to 2020, Musk was sitting way down on the list, somewhere near the mid-30s with a net worth of only $7.2 billion. However, in 2020, Musk added more than $100 billion to his net worth, mainly because of the success of both his companies, Tesla and SpaceX. Reports show that Tesla alone produced more than 508,000 electric cars in 2020. The company met its EV production goal of 2020. This resulted in an increase in the stock price and Tesla’s inclusion in the S&P500 Index, which lists the stock exchanges of the 500 biggest companies in the US. Moreover, the company is planning further expansion by opening huge manufacturing plants and launching cars in other markets like India. It recently step foot in Nepal. Musk’s space technology company, SpaceX also had a pretty decent year sending astronauts to the International Space Station and launching satellites for the Starlink Project. The company also started the beta program for its satellite-internet network, Starlink Broadband with speeds reaching up to 170 Mbps.
However, no matter how rich Musk gets, he will always be that CEO who sells boxers, flamethrowers, or hilariously named tequilas, which are also super-expensive!
