by Diya Barmecha

Elon Musk, is one of the most influential and forward thinking people in the world. He has innovated and thought of revolutionary ideas that are going to change the world forever. For this he has received many awards. In 2019 he was awarded the Forbes list of most innovative leaders. In fact, this year (2020), his rocket company launched four astronauts into space. Additionally his company Tesla.Inc is going to the S&P 500 on December 21st. This is a significant moment for the company. However, this isn’t the most exciting news for Elon Musk this year. He has become the world’s third richest man, surpassing  Mark Zuckerberg who is the Chief Executive Officer (CEO) of Facebook. 

This year, according to Bloomberg which is a private financial software, data, and media company, Elon Musk has had the biggest gain on the ranking of the world’s 500 richest people. With an increase of $82.2 billion just this year! Tesla had made 15% in after hours trading while the shares of it ended up 8.2% which pushed his fortunes at $7.6 billion to over $109.7 billion. Tesla has been one of Elon Musk’s biggest successes. Tesla, is an electric car and a clean energy company. Their products range from electric cars, battery energy storage from home to grid scale. They also have solar panels and solar roof tiles for options to purchase. The Tesla electric cars use electric motors that have two moving parts and one single speed transmission that have no gears. The system is virtually maintenance-free. This is a car of the future.

Musk, who now owns 20% of Tesla’s shares. His founded rocket company, SpaceX has also had a huge gain of around $90 billion in his fortune. All of which have been this year. SpaceX which was founded in 2002 plans to reduce space transportation cost to enable mankind to colonize Mars. Its full form being Space Exploration Technologies Corp. On November 24, SpaceX launched its 16th Starlink Mission from the Cape Canaveral Air Force Station. The Starlink Mission is a satellite internet constellation that is being constructed by SpaceX that provides satellite internet access. This constellation will potentially consist of thousands of mass produced smaller satellites in the lower orbit of Earth that work alongside ground transceivers.
Elon Musk’s wealth could soar even further if he builds Tesla into a $650 billion company by 2028. Knowing Musk’s dedication to his work. We can hope that he is able to achieve this. With this new influx of money we hope he can create much more detailed and intriguing companies. As of now, the only people richer than him are Jeff Bezos who is  the founder of Amazon, he has $184 billion fortune and Bill Gates, Microsoft principal founder with $129 billion. Even with all the money Musk has, he has been a true human as he signed the Giving pledge which is a philanthropic initiative created by Gates and investor Warren Buffet. This encourages the world’s richest people to commit to giving away half their wealth to charity. The entire world can’t wait for what new Elon Musk has in store for us.

Diya Barmecha is a current 11th-grader who loves to inspire. She loves to read and discover new genres of books. She enjoys reading news articles when they concern her interests. She hopes to find a medium of expression by the Ascent.