This is legendary: Tesla’s founder, Elon Musk, is now the world’s second richest person, behind Amazon’s Jeff Bezos. What happened is uncommon: Tesla’s stock has moved from $65 to $526 within a year, and the electric vehicle mass-scale pioneer is now worth close to $500 billion. Musk owns a big chunk of that money, plus equity in SpaceX, another legendary company.
Tesla founder Elon Musk has overtaken Microsoft’s Bill Gates to become the world’s second-richest person, per the Bloomberg Billionaires Index. The 49-year-old entrepreneur’s net worth rocketed by $100.3 billion this year to $127.9 billion, driven by a surge in Tesla share prices, which experts say could reach $1,000. The electric car company’s market value is near $500 billion. Musk’s stake in SpaceX, which launched four astronauts on a ‘taxi’ service to the ISS last week, accounts for a smaller portion of his fortune. Amazon’s Jeff Bezos remains the world’s richest person, worth $182 billion.(LinkedIn News)
Tesla has the best technology, best brand and remains well ahead of competitors on electric vehicles. Yes, the category-king has been anointed and Tesla will win the electric vehicle (EV) business. And provided it keeps that dominance, markets believe others will just break down. What GM and Ford are doing could be described as “marginal”, and daily, Tesla is extending the goal posts, making it harder for them to catch-up.
In the marketing construct of Needs, Expectations and Perceptions, Tesla is taking the world into Perception while other brands are meeting needs and expectations in the EV sector. When you are in the perception space, you set a new basis of competition, bringing new competitive ordinances that disrupt markets for your advantage.
Elon Musk is the generation’s finest innovator – and markets have rewarded him.---
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