3 years ago

#Tesla #Teslastock #arkinvest
If I would have told you a year before that elon musk would go on to become the richest person on the planet maybe you would have just laughed on my face. almost inevitable as Tesla’s share price climbed higher and higher in 2020. On Thursday, it finally happened.

Tesla’s stock surged 7.9 per cent, taking Musk ahead of Jeff Bezos on the Bloomberg Billionaires Index, a ranking of the world’s 500 wealthiest people. Musk is worth US$194.8 billion , or US$9.5 billion more than Bezos, whose Blue Origin is a rival to Musk’s Space Exploration Technologies, or Space X, in the private space race. Well a few months before when Jeff Bezos was miles ahead of everyone else, we thought it would be impossible to take down Jeff Bezos but one way or the other if any could do it, it was Elon musk and people started talking about this rivalry between Jeff Bezos and Elon musk, and who would become the first trillionaire.

No one has seen a more dramatic shift than Musk. Over the past year the South Africa-born engineer has added more than $165 billion to his fortune in what’s probably the fastest bout of wealth creation in history. Fueling his rise was an unprecedented rally in Tesla’s share price, which surged 743% last year on the back of consistent profits, inclusion in the S&P 500 Index and enthusiasm from Wall Street and retail investors alike. The shares have gained more than 23,900% since its 2010 initial public offering, including a 5-for-1 stock split last year.

Rich Valuation
A lot of people are concerned about tesla’s high valued stock price because Tesla produced just over half-a-million cars last year, a fraction of the output of Ford Motor Co. and General Motors Co. I’m not gonna disrespect or undermine them. But I have only one thing to say. Tesla delivered approximately 367,500 vehicles in 2019 , 50% more than what they did in 2018. IN 2018 it was 245,240. And in 2020 despite the pandemic being around tesla sold 500,000 vehicles. So their sales are increasing by 50% every year. Does the same happen with ford and GM? This has to be the end of the argument for its rich valuation. I’ve said this before in my previous videos too.

How Strange’
I agree with him over there. I don’t see a reason why someone would wish to sell his position in a company that’s actually working and has a lot of potential in the future. It’s just getting started .If I ask myself the only two reason to sell my position would be either if I’m extremely satisfied with my results or I don’t believe in the company anymore .

He tweeted last year he wanted to sell “almost all” his physical possessions and he told in a December interview that the main purpose of his wealth is to accelerate humanity’s evolution into a civilization in space.

After reports of his new status were published Thursday, Musk tweeted “How strange,” then added “Well, back to work.”

Information Source: Bloomberg

You should buy tesla in 2021 and here's why

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