Elon Musk’s Net Worth Jumped $8,000,000,000 on Monday, Making Him World’s Fourth-Richest Person
Musk’s astronomical net worth jumped $7,780,000,000 on Monday. Yes, that is an almost $8,000,000,000 increase within a 24-hour period, thanks to an 11% jump in Tesla’s stock values. But this explosion of wealth is only a fraction of the amount of money Musk has raked in this year. How much has he gained? $57,200,000,000.
Musk is not the only member of America’s hyper-elite to see titanic inflations in their net worths. Bloomberg ranks the following men as the three wealthiest in the country, just ahead of Musk, and their net worths almost defy comprehension.
Walmart Fouding Family the Waltons: combined net worths of $221,660,000,000, up $7,782,000,000 in 2020
Amazon CEO Jeff Bezos: $188,000,000,000, up, $73,000,000,000 in 2020
Microsoft Founder Bill Gates: $121,000,000,000, up $8,230,000,000 in 2020
Facebook Founder Mark Zuckerberg: $99,000,000,000, up $20,600,000,000 in 2020
These numbers, for people who are not math whizzes, cosmologists, or accountants have no practical meaning in every day life. Take Bezos’s fortune, for example. Counting one dollar every second, nonstop, would take 5,961 years. Put another way, Bezos has “made” $316,000,000 per day – every day – in 2020, at least, so far.
President Donald Trump, meanwhile, has seen a $300,000,000 drop in his net worth in 2020, which Bloomberg estimates hovered around $3,000,000,000 at the end of 2019. No one really knows for sure what Trump’s net worth really is.
“Declines in the value of the president’s office building at 40 Wall Street, his iconic Trump Tower on Fifth Avenue and properties owned jointly with Vornado Realty Trust accounted for some of the biggest hits to his net worth,” said Bloomberg.
That so few people are able to hoard such vast amounts of cash – generated by large and typically overworked and underpaid laborers – is a testament to the lopsided state of the American capitalist system. While millions stuggle to survive, and government resources straining due to lack of revenue (because of President Donald Trump’s gargantuan tax giveaway to the rich in 2017), a national reckoning may be on the horizon, and rightly so.