Why did billionaire Elon Musk ‘win big’ in 2020?

Why did billionaire Elon Musk 'win big' in 2020? 4
Why did billionaire Elon Musk 'win big' in 2020? 4

`When I spend too much time in the boardroom, it’s usually when things don’t go as expected. And when I spend time on the factory floor, driving cars, thinking about rockets, that’s when things get worse.`

And everything seems to be going very well for Elon Musk in 2020. SpaceX launches the first commercial vehicle to take humans into space.

According to the Bloomberg Billionaire Index, Musk is worth about $145 billion, making him the second richest person in the world.

The majority of Elon’s assets are Tesla shares.

Tesla CEO Elon Musk.

Dan Ives, CEO of stock research company Wedbush Securities (USA), estimates that demand for Tesla’s Model 3 in Europe and China is huge.

While the pandemic affected the pace of business for many, Tesla said it continued to deliver half a million cars in 2020. Tesla is also on track to achieve its first full year of profit.

How did Elon Musk get rich so quickly this year?

There appears to be no material impact on Tesla and its 2020 goals, despite the pandemic.

Tesla has more than 50,000 employees worldwide – people who help Musk meet his ambitious goal this year despite facing epidemic risks.

Before ignoring local orders to reopen the factory, Musk threatened to move operations out of California because of restrictions.

Although there is no exact number from public health officials or from Tesla itself, the Wall Street Journal said that according to information from many different sources, Tesla also admitted to being infected with Covid-19 this year and the official

Second, an equally important reason that helps Tesla achieve its vehicle production goal is the factory in China.

Chinese officials said the government provided personal protective equipment (PPE) to Tesla workers, helping maintain production throughout the pandemic.

Third, advances in battery technology are helping Tesla stock rise, along with governments encouraging electric vehicle production and ownership.

Fourth, although about three-quarters of Musk’s net worth comes from his shares in Tesla, he also has SpaceX.

In October, it won another contract as part of the Pentagon’s proposed missile warning system.

Elon Musk is also involved in a series of other projects, although not all of them are as successful as Tesla or SpaceX.

He is also participating in the Hyperloop project, using magnetic levitation, steel pipes and vacuum pumps to move at extremely high speeds and Neuralink technology – linking the human brain with artificial intelligence.

So, Musk has a lot of things to do, but most of those projects will take decades to complete.

But despite this year’s successes, Musk also failed to deliver on a few promises.

Given this history, analysts and investors believe that some of Musk’s big ambitions for 2021 may not be realized, or at least have to be delayed for completion.

But it’s worth noting that Tesla has never really been severely punished by Wall Street for not meeting its goals.

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