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Discussion Starter #1 (Edited)
CNBC

Elon Musk Is Now the Richest Person in the World, Passing Jeff Bezos





Elon Musk just became the richest person in the world, with a net worth of more than $185 billion.
Thursday's increase in Tesla's share price pushed Musk past Jeff Bezos, who had been the richest person since 2017 and is currently worth about $184 billion.
Musk's wealth surge over the past year marks the fastest rise to the top of the rich list in history — and marks a dramatic financial turnaround for the famed entrepreneur.

Elon Musk just became the richest person in the world, with a net worth of more than $185 billion.

CNBC Money Report

Thursday's increase in Tesla's share price pushed Musk past Jeff Bezos, who had been the richest person since 2017 and is currently worth about $184 billion. Musk's wealth surge over the past year marks the fastest rise to the top of the rich list in history — and is a dramatic financial turnaround for the famed entrepreneur who just 18 months ago was in the headlines for Tesla's rapid cash burn and his personal leverage against the company's stock.

Musk started 2020 worth about $27 billion, and was barely in the top 50 richest people.

Tesla's rocketing share price — which has increased more than ninefold over the past year — along with his generous pay package have added more than $150 billion to his net worth.

Meanwhile, Amazon's share price has remained more subdued due to the potential for increased regulation from Washington.

Elon Musk passed Warren Buffett in July to become the seventh-richest person. In November, Musk raced past Bill Gates to become the second-richest person. Musk has gained more wealth over the past 12 months than Bill Gates' entire net worth of $132 billion.

Tesla's shares closed Thursday at $816.04, up nearly 8%. The company's market value has grown to more than $760 billion.

While the Bloomberg Billionaires Index had Musk within $3 billion of Bezos' net worth on Wednesday, before Thursday's trading, the Forbes Real Time Billionaires List had Musk about $7 billion behind Bezos after the market close Thursday. Forbes pegged Bezos' net worth at $184.6 billion and Musk at $177.2 billion. Forbes, however, may not be including the value of Musk's options, which he received as part of his pay package, to buy more than 33 million shares of Tesla.



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Mary Barra quick get on the phone, where is Austin Powers?
 
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Is this even real? What is a RWD boss? Besides he’s definitely not even close to being the richest person in the world. Maybe on paper in the U.S.
 

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Is this even real? What is a RWD boss? Besides he’s definitely not even close to being the richest person in the world. Maybe on paper in the U.S.
He is the world richest person by valuation. I am more impressed with what he has done with Space X than what he has done with Tesla. Space X is eating the lunch of all US space firms.
 

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He is the world richest person by valuation. I am more impressed with what he has done with Space X than what he has done with Tesla. Space X is eating the lunch of all US space firms.
Actually, what SpaceX is doing to the "space" industry, Tesla is doing to the energy and automobile industry. Essentially, stitching together a bunch of mature industries (mature because they've languished in terms of building better products) with an overall goal of building an energy business with products produced by his companies as devices towards that end.

In that process, he has upended the space AND automobile industries. The only reason he hasn't done the same in the gas and electric business is because t/he/y hasn't/haven't quite figured it out yet. But, his verticalization strategy seems to be working for his favor, but, not for much of anyone else.

We need 10K more people who think like him and fund the living daylights out of them to ensure their success. Nobody is doing that right now and that's why he's the richest guy (or at least #1/#2 on any given day). Trickle down? I think not.
 

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Discussion Starter #5 (Edited)
It's a big bubble about to burst that Wall Street thinks the EV sales in the US of today is a true reflection of car sales in the future 10 years down the line this bubble will burst when all the other carmakers EV's arrive, watch this space. A boss is CEO most 2 year olds would understand that one. Who uses RWD drivetrain on every on every car apart from a small amount that are 4x4 but all driven from the rear.

Which is a company not a FWD car in the whole line-up that is the total opposite i.e. Opel Group 25 billion dollar losers that are impossible to make a profit on the roof that just crippled GM sadly for 2 decades.

Something like a FWD Bolt EV golf cart thats already losing $9,000 on every Bolt GM sells. If thats the future of GM it's not a very sustainable future on the horizon , and now there are all sorts of incentives being added the subject of another GM Insider News thread "Chevy Bolt: Why Not Just Give Them Away?".

Perians reply to "Chevy Bolt: Why Not Just Give Them Away? thread summed it up very well.

So, you add a generous dealer discount, $7,000 cash back, $3000 GM Card bonus, $2000 New York State EV credit and in my case $3,100 in GM Card points and you have $ 15,100 in cash. Dealer discount at say $2500 and then 84 months of zero percent financing. $17,600 + finance savings of about $2500. That's TWENTY THOUSAND DOLLARS.

Really, why not just give them away and be done with it?

Perhaps GM could do the right thing and cut the list price by $10,000. That would be the REAL savings as consumers would not have to pay sales tax on the inflated list and ridiculous incentive offers. Hate to say it, but follow Tesla's example and price your vehicles for market acceptance, not entry to the incentive circus.



Why has the FWD Bolt EV not popped the bubble, not doing the same for GM?

A big bubble about to burst? GM have have got to prove that they can make EV's both profitable and affordable if they want to burst the Tesla bubble sadly looking at the incentives on the Bolt long term survivability as a company. Sadly other car companies that struggle financially in the future will get around this by assembling hard to make a profit on the roof of small unprofitable FWD cars on the cheap in China the rest will have to follow that will be more US autoworkers jobs lost.

Watch out for European car sales numbers in February when the totally decimated January sales number are released as new European Union Government climate change C02 based fines start in January designed to kill off Internal Combustion Engine cars, the EU car sales numbers will be a real bloodbath, some like Fiat have paid Tesla billions for EV C02 credits already. EU is the destroy the ICE canary in the mine watch thier sales plummet.


European car makers profitability and autoworkers jobs will go down the climate change tubes in 2021.

The incoming US administration have same climate change agenda as the EU that will probable demonise the ICE unfairly as well in the future, so GM future EV's had better be good and make produce a tidy profit, Volts gone Spark EV & ELR are dead, Bolt is highly unprofitable not likely to pop the Tesla bubble whose sales are tiny at the moment bears no real relation Wall Streets value they put on them. If the US Government legislators bring in draconian "Climate Change No Time To waste" rules & legislations Wall Street might be right. GM EV's had better be good and profitable.
 
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If I had that kind of money I'd build a rocket to go to the moon! And look what he did - exactly that.

Absolutely amazing. Tesla is way over-valued, but Musk is a real visionary and I think a big reason it has such a high value. I think we have to look at Tesla's market cap and say it is what Musk is worth, not necessarily the company itself.
 

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For me this value of Tesla is only more cash for future, example with the new valuation they can buy GM .So all this valuation is for the future potential and don't be surprised if you see Tesla brought GM tomorrow.
 

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For me this value of Tesla is only more cash for future, example with the new valuation they can buy GM .So all this valuation is for the future potential and don't be surprised if you see Tesla brought GM tomorrow.
No one will buy Tesla right now, most companies don't have the resources (meaning money) to afford Tesla. Tesla's current market cap is $811 billion dollars, virtually no company has the wealth to buy it. Or were you saying Tesla to buy GM? That won't happen either because Tesla's stock would tank :D
 

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Actually, what SpaceX is doing to the "space" industry, Tesla is doing to the energy and automobile industry. Essentially, stitching together a bunch of mature industries (mature because they've languished in terms of building better products) with an overall goal of building an energy business with products produced by his companies as devices towards that end.

In that process, he has upended the space AND automobile industries. The only reason he hasn't done the same in the gas and electric business is because t/he/y hasn't/haven't quite figured it out yet. But, his verticalization strategy seems to be working for his favor, but, not for much of anyone else.

We need 10K more people who think like him and fund the living daylights out of them to ensure their success. Nobody is doing that right now and that's why he's the richest guy (or at least #1/#2 on any given day). Trickle down? I think not.
You are overstating his achievements. The space he is working in is vast and complex, do not let the Hype cloud how you evaluate the technical success of his companies.
Plus there is no guarantee yet of commerical success. I am not saying his achievements are not impressive, however, the space he is working in is the way it is for a reason.

A vehicle is a system of systems, very complex. And when it comes to space, do not under estimate the technical capabilities of US firms like Lockheed, Boeing, Northrop, etc, you have to understand however how they work.

They solve some serious technical problems, some you will never find out until we are in a big power conflict, and then the enemy will have a rude shock.
 

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With the new administration's support of BEVs Tesla is either too big or too small to fail depending on how you measure it.
 

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You are overstating his achievements. The space he is working in is vast and complex, do not let the Hype cloud how you evaluate the technical success of his companies.
Actually, I don't think I'm overstating--I am properly stating, the "space" he is in is not complex to think about, and his accomplishments are not necessarily technical, but, business oriented.

Plus there is no guarantee yet of commerical success. I am not saying his achievements are not impressive, however, the space he is working in is the way it is for a reason.
It's the way that it is because a bunch of curmudgeons with a style of leadership and technical acumen that made an industry ripe for overtaking had the gaul to think that a new way to provide transport in a way that also helped the environment and someone's pocket book at the same time would absolutely never work. Because why?

A vehicle is a system of systems, very complex. And when it comes to space, do not under estimate the technical capabilities of US firms like Lockheed, Boeing, Northrop, etc, you have to understand however how they work.
A vehicle is a transport device--transporting people and stuff. That's it.

I worked for Lockheed, I know how it works and it never thought that it would be the transport, the payload, and the service all wrapped up into one. And that's just for starters. It goes way beyond that.
 

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No one will buy Tesla right now, most companies don't have the resources (meaning money) to afford Tesla. Tesla's current market cap is $811 billion dollars, virtually no company has the wealth to buy it. Or were you saying Tesla to buy GM? That won't happen either because Tesla's stock would tank :D
He was saying that Tesla can buy GM and not the other way around. GM is going to die and there would be no reason for Tesla to buy out GM when they can just watch it fall by the wayside. GM has no innovation and is being led by a bunch in incompetents who thought it was wise to kill Holden off. Opel was understand because manufacturing in Europe is expensive and there were already the other big german brands. Holden was the only place that GM had some innovation that could have kept GM alive but that future is gone and so is GM.
 

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He was saying that Tesla can buy GM and not the other way around. GM is going to die and there would be no reason for Tesla to buy out GM when they can just watch it fall by the wayside. GM has no innovation and is being led by a bunch in incompetents who thought it was wise to kill Holden off. Opel was understand because manufacturing in Europe is expensive and there were already the other big german brands. Holden was the only place that GM had some innovation that could have kept GM alive but that future is gone and so is GM.
Bit over the top mate ..

I think there is innovation there but the cogs turn so slowly that they will get left behind by leaner, more efficient brands.

Part of the reason Holden used to be able to Innovate was they were left alone out of the machine that is GM and able to make quicker decisions

As soon as that wasnt done the Machine swallowed them whole
 

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It's the way that it is because a bunch of curmudgeons with a style of leadership and technical acumen that made an industry ripe for overtaking had the gaul to think that a new way to provide transport in a way that also helped the environment and someone's pocket book at the same time would absolutely never work. Because why? .
I think it's because while Musk/Tesla were/are looking for new solutions to old problems companies like GM were (and still are) focusing most of their efforts on the bottom line. In this rush to please the shareholders with short term profits they've neglected and/or discarded the parts of the business that could drive future innovation and growth. While Tesla is expanding it's global reach GM is downsizing theirs.

To me it seems clear that GM could turn the ship around with the help of a visionary like Musk but first you would need to fire everyone in management that has an accounting degree other than those in the finance department. A good business knows when to listen to the accountants but a great business also knows when to ignore them.
 

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I think it's because while Musk/Tesla were/are looking for new solutions to old problems companies like GM were (and still are) focusing most of their efforts on the bottom line. In this rush to please the shareholders with short term profits they've neglected and/or discarded the parts of the business that could drive future innovation and growth. While Tesla is expanding it's global reach GM is downsizing theirs.

To me it seems clear that GM could turn the ship around with the help of a visionary like Musk but first you would need to fire everyone in management that has an accounting degree other than those in the finance department. A good business knows when to listen to the accountants but a great business also knows when to ignore them.
You are assuming you know what the technical capabilities of US defense companies are. Do you know that the United States deployed cruise missiles with internal maps back in the 1960's?
Do not assume the space launch systems you see off NASA pads represent Northrop's/General Dynamics/Raytheon/Lockheed, etc overall technical achievements. The United States has lots of rockets you did not even know exist and they can do sheit you never thought of.
 

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You are assuming you know what the technical capabilities of US defense companies are. Do you know that the United States deployed cruise missiles with internal maps back in the 1960's?
Do not assume the space launch systems you see off NASA pads represent Northrop's/General Dynamics/Raytheon/Lockheed, etc overall technical achievements. The United States has lots of rockets you did not even know exist and they can do sheit you never thought of.
I have heard that more than once. Anything you can imagine, they've already developed. If only they can keep on top of the patriotism vs. greed equation, we're good.
 

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You are assuming you know what the technical capabilities of US defense companies are. Do you know that the United States deployed cruise missiles with internal maps back in the 1960's?
Do not assume the space launch systems you see off NASA pads represent Northrop's/General Dynamics/Raytheon/Lockheed, etc overall technical achievements. The United States has lots of rockets you did not even know exist and they can do sheit you never thought of.
Did you quote the wrong post? I never mentioned US defense companies or even the military.
 
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