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Elon Musk Just Got $32 Billion Richer

by : Shola Lee on : 04 Jan 2022 13:58
Elon Musk Just Got $32 Billion RicherAlamy

The world’s richest man has just got richer – Elon Musk has netted another $32 billion.

Tesla‘s climbing stock is cited as the reason behind this particular windfall, with the company making nearly 1 million cars in 2021.

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According to Forbes, Musk remains firmly at the top of the world’s rich list, with his estimated worth to be around $300 billion.

Elon Musk (Alamy)Alamy

Forbes reported that Tesla shares had increased by 13%, with the company’s market capitalisation around the $1 trillion mark.

Musk is the CEO of Tesla and owns about 15.6% of stocks, and is also the founder of SpaceX.

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From 2020 to 2021, Musk’s fortune grew by more than $200 billion, which is the biggest one-year gain by any billionaire since Forbes began tracking the net-worth of individuals.

Musk has sold $16.4 billion worth of shares since November, and made headlines after he said he would sell 10% of his Tesla stock if Twitter users agreed, which they did.

Elon Musk. (Alamy)Alamy

The CEO then tweeted in December that he would be paying $11 billion in taxes for 2021, which would make him one of the biggest individual US taxpayers in history.

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Musk made the announcement after US Senator Elizabeth Warren accused the billionaire of ‘freeloading’ with regards to paying taxes.

In a tweet posted December 13, Warren wrote:

Let’s change the rigged tax code so The Person of the Year will actually pay taxes and stop freeloading off everyone else.

A week later, on December 20, Musk tweeted, ‘For those wondering, I will pay over $11 billion in taxes this year.’

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As referenced by Warren, Musk rounded off 2021 by being named Time’s Person of the Year.

The billionaire spoke to the publication about his big plans for his companies, and when talking about Tesla introducing driverless cars, he said that the company ‘still obviously have a lot of work to do’.

He then spoke about Space X and the goal of his ‘exciting’ multi-planet exploration:

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The goal overall has been to make life multi-planetary and enable humanity to become a spacefaring civilisation.

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Elon Musk Got $11.5 Billion Richer This Week

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While Musk spoke more about his projects than profits, he is expected to receive another windfall later this month.

Tesla is expected to report its fourth-quarter earnings, and if – as analysts expect – the company hits operational and valuation goals, Musk could have lucrative stock options, increasing his fortune even further.

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Shola Lee

Shola Lee began her journalism career while studying for her undergraduate degree at Queen Mary, University of London and Columbia University in New York. She has written for the Columbia Spectator, QM Global Bloggers, CUB Magazine, UniDays, and Warner Brothers' Wizarding World Digital. Recently, Shola took part in the 2021 BAFTA Crew and BBC New Creatives programme before becoming a journalist at UNILAD, where she works on breaking news, trending stories, and features.

Topics: News, Elon Musk, Now, stocks, Tesla

Credits

Daily Mail and 1 other
  1. Daily Mail

    World's richest man gets $32BILLION richer: Elon Musk's worth climbs to $306billion as Tesla stock soars after car maker rolled out nearly a million vehicles in 2021

  2. Time

    2021 person of the year