Advertisement
2023 GOVERNORSHIP AND
STATE HOUSE OF ASSEMBLY ELECTIONS
- days
- Hours
- Minutes
- Seconds
Advertisement
Elon Musk, the outspoken and envelope-pushing chief executive of Tesla, overtook Amazon boss Jeff Bezos to become the world’s wealthiest person, US media reported Thursday.
Musk is a major shareholder of the electric car company and has benefited from Tesla’s surging share price over the last year. CNBC estimated Musk’s wealth at $185 billion.
Advertisement
The distinction is the latest superlative for the South African-born Musk, who leads the aerospace venture SpaceX in addition to Tesla, which has become a pacesetter for the car industry as conventional automakers try to catch up to Tesla’s lead in electric autos.
Tesla had a strong 2020 as it ramped up auto production, broke ground on new factories and reported a series of profitable quarters that enabled shares to rise more than 700 percent during the year as it was added to the prestigious S&P 500 index.
Musk has hit a stride after stumbling in 2018, when US securities regulators required the Tesla chief to step down as chairman and pay $20 million to settle charges he defrauded investors with false claims on Twitter in August about a possible bid to take the company private, which was quickly aborted.
Shares of Tesla surged 5.9 percent to $800.43 in late morning trading, lifting the company’s market capitalization above $750 billion.
Source : www.punchng.com
Disclaimer
Contents provided and/or opinions expressed here do not reflect the opinions of The Pacesetter Frontier Magazine or any employee thereof.
Support The Pacesetter Frontier Magazine
It takes a lot to get credible, true and reliable stories.
As a privately owned media outfit, we believe in setting the pace and leaving strides in time.
If you like what we do, you can donate a token to us here. Your support will ensure that the right news is put out there at all times, reaching an unlimited number of persons at no cost to them.
Related posts
Stay connected
Recent News
Tinubu Approves Comprehensive School Census, Education Reforms
Advertisement Nigeria’s President, Bola Ahmed Tinubu, has approved a census for all schools in Nigeria from basic to tertiary level,…
Enugu gov’t insists on quality, integrity, timely delivery of smart schools, healthcare projects across state
Advertisement Governor of Enugu State, Dr. Peter Mbah, has charged contractors and the site engineers handling construction of the 260…