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Elon Musk- the pandemic's biggest beneficiary?

By Aishveen Kaur and Pavleen Kaur

 


Elon Musk saw the biggest gains, tripling his personal fortune because of the meteoric rise in TESLA shares. Where all the businesses were having a rough

time, demand for TESLA vehicles remained strong. According to Musk, the traditional dealer network is completely unnecessary in a world where consumers prefer to shop online.

While Bezos has been the biggest beneficiary in terms of largest net worth increase, Musk saw the highest percentage gains with a 228% boost, taking his personal fortune from $24.6 billion pre-pandemic to $73.1 as of August 13, according to IPS.

Wedbush’s Dan Ives, who recently raised his bull case price target to $3,500 a share, contends that TESLA will keep soaring. “We still think bright days are ahead for TESLA”, Ives told Bloomberg last week. Despite the haters who continue to scratch their heads, the stock moves higher.

Musk has received two enormous stock option grants this year, worth $6.4 billion, as part of his compensation package. A third is on the way if TESLA maintains a six-month average market capitalization of $200 billion and posts either $55 billion of revenue or $4.5 billion of adjusted EBITDA for the previous four consecutive quarters. With all the tragedies happening in the world, do not fret as we still have more than a few outstanding humans left paving the way for a better future and if you live in Elon Musk’s world of endless possibilities and believe in something with all your heart, anything is possible.

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