While South Africa’s economy continues to struggle, we can perhaps take some confidence today in knowing that at least one national export out there who could pay off all our debt if he wanted to. Tesla and SpaceX CEO Elon Musk has now surpassed Amazon CEO Jeff Bezos as the richest man in the world.
Thanks to a massive rally in Tesla’s stock price, Elon Musk is now worth around $188 billion. I would try and translate that amount into Rands, but my head breaks trying to compute numbers that large, in much the same way that former president Jacob Zuma struggles to count to ten. Now admittedly, this title may not last considering how Tesla stock is strangely overvalued, and considering that its revenue and sales are below most other companie. It’s still an impressive achievement and shows how Musk’s company has used innovative technology to become an important part of our green future.
As for Musk himself, even though he could be forgiven for being excited about this momentous achievement, he doesn’t appear too fussed about it and true to style, tweeted “How strange” and “Well, back to work …”. He’s probably looking to focus more on growing his companies rather than buying islands, fancy cars and living the good life (Though I would be more than happy to carry that burden for you Elon).
While the rest of the world has been reeling from the fallout of the Covid-19 pandemic, Bezos and his fellow tech billionaires have seen their stocks continue to rise as investors move away from traditional industries and financial institutions into the tech industry that will power our future.
Yes, we could all get bitter about just how insanely rich these guys are even if it’s merely stock value and not raw cash, but I guess it’s worth congratulating them as well for their hard-earned success. So, well done Elon Musk and even though it was the US that shaped your entrepreneurial spirit, please try not to forget the country of your birth who could certainly do with a few of those billions.
Last Updated: January 8, 2021