• Wed. Dec 8th, 2021

DMC News

We Report As It Is

Elon Musk’s net worth vs South Africa’s GDP: What is valued highest?

By

Oct 26, 2021

Elon Musk, already a wildly rich man, has just experienced the sort of financial skyrocketing that could take him to Mars without a spaceship. The Tesla founder has seen his insane wealth almost double in the last 12 months, and this week, Musk’s net worth reached heights we’ve never come close to witnessing before.

What is behind Elon Musk’s massive wealth?

Both the Dow and S&P 500 finished at all-time highs on Monday, extending a run on good earnings – while Tesla shot above $1 trillion in market value. Tesla jumped 12.7% following an announcement that car rental company Hertz ordered 100,000 electric autos from Elon Musk’s company in the latest embrace of electric car technology by the auto industry.

The rise left Tesla the latest big tech company to be valued at $1 trillion, joining a group that includes Apple, Amazon, and Microsoft. The Hertz announcement offset a sharply critical letter from the National Transportation Safety Board chair to Musk slamming the company for inaction on safeguard the automaker’s driver assistance programs.

What is Elon Musk’s net worth?

As of Tuesday 26 October, Elon Musk is worth… and get ready for this… $289 billion. Or R14.6 trillion, to convert that into the currency of his country of birth. The naturalised former Pretoria resident is worth around $100 billion more than Amazon’s Jeff Bezos, and he’s about 29 times better off than South Africa’s richest citizen, Johann Rupert.

In all likelihood, Elon Musk will become the first person to have a net worth valued at $300 billion. Alongside Bezos, he was one of only two people who have ever been estimated to have a personal fortune of $200 billion or more.

The richest man in the world vs South Africa’s GDP

Truth be told, we are talking about obscene amounts of wealth here – to the point where the world’s richest person is very, very nearly worth the same as South Africa’s annual GDP. We kid you not, SA is estimated to have a Gross Domestic Product of roughly $300 billion to $320 billion – and Musk is within touching distance of eclipsing Mzansi itself.

With a net worth that is higher than that of Bill Gates and Mark Zuckerberg combined, Elon Musk is clear of any so-called competition. And, if he’s ever feeling charitable, someone should tell him we need our potholes fixing in South Africa…

Leave a Reply

Your email address will not be published. Required fields are marked *