According to Bloomberg Index, Elon Musk is the billionaire with the highest net worth in the world. And the tech tycoon is close to breaking its wealth record ($340 billion in 2021) after Tesla shares rally following Donald Trump’s victory in the US presidential election. The world’s richest man gained nearly $21 billion on Monday as Tesla stock rose 9 percent, bringing his net worth to $335 billion, according to the Bloomberg Billionaires Index. So how long will it take for a salaried person to reach Musk’s level of wealth?
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according to forbesThe average annual salary in the US is $59,428. According to Statista, it would take an average US resident more than three million years to earn Mr Musk’s wealth by working a regular job.
A study on Britain’s working population has claimed that it would take the average person 17 weeks and an hour to earn as much money as the Tesla founder and CEO makes in five minutes. The research was conducted by mathematical modeling tool Gigacalculator.com, which studied the earnings of the 10 highest-paid bosses according to Bloomberg’s CEO Pay Index and compared them to the average Briton’s full-time salary of £35,423.
In June, Tesla shareholders voted in favor of reinstating Mr Musk’s $45 billion, 10-year pay plan. As per the current exchange rate, this works out to around Rs 3.80 lakh crore in a year or Rs 1,040 crore per day.
In September, a new report from wealth tracking group Informa Connect Academy said Mr Musk was on track to become the world’s first trillionaire by 2027. The report further states that the billionaire’s wealth is increasing at an average annual rate. 110 percent.
In terms of earnings from assets, Mr Musk’s wealth mainly comes from his stakes in various companies such as Tesla, SpaceX, X (formerly Twitter) and The Boring Company.
Mr Musk was born in 1971 in Pretoria, South Africa, and showed his talent for entrepreneurship by going door-to-door selling chocolate Easter eggs with his brother. according to BBCHe developed his first computer game at the age of 12.
Mr Musk dropped out of Stanford University and founded two technology start-ups during the “dotcom boom” of the 1990s. An online banking company that was purchased by PayPal in 2002 for $1.5 billion.
He purchased X two years ago and since then, influence on the platform has grown exponentially and the number of followers has almost doubled to 194 million.
