Tesla CEO Elon Musk is set to retake the title of the world's richest man, according to Legit.
(Photo : by Justin Sullivan/Getty Images)
SAN FRANCISCO, CALIFORNIA - JANUARY 24: Tesla CEO Elon Musk leaves the Phillip Burton Federal Building on January 24, 2023 in San Francisco, California.
It can be recalled that he lost the title to Bernard Arnault, a French billionaire and luxury merchant, a few weeks ago. This is a first as Musk is the first man to lose $200 billion. But things seem to be taking quite a turn...
Musk's Wealth is Getting a Boost
Tesla has seen a 70 percent increase in the last two weeks. As a result, this has impacted Musk's wealth positively, which is now at $191 billion. According to Bloomberg Billionaire Index, this leaves a billion gap between him and Arnault.
Also read: Elon Musk to Host 'Biggest Party on Earth'? Expects 15k People to Be Invited to the 'Cyber Rodeo'
Philanthropy
Reuters reported that Must donated approximately $1.95 billion in Tesla shares to charity based on a filing with the US Securities and Exchange Commission. Between August and December 2022, the Tesla CEO donated around 11.6 million shares. However, the beneficiary organizations or recipients weren't named.
Currently, Musk owns 13% of Tesla. It can also be recalled that Musk donated around $5 billion to charity in 2021. In addition, Musk has also been vocal about his support for various causes and movements, such as the fight against climate change. He has also been an advocate for space exploration and the development of sustainable energy sources.
Musk has also been actively involved in the development of sustainable energy sources. He is a strong advocate for renewable energies, such as solar and wind power. In addition to his donations to charity, Musk founded The Boring Company which focuses on developing underground transportation systems that reduce traffic congestion and air pollution caused by cars.
He also invested $100 million into OpenAI, an artificial intelligence research company dedicated to finding ways of using AI safely and ethically while still benefiting humanity overall. Furthermore, he donated $1 million towards planting trees with YouTuber Jimmy Donaldson's #TeamTrees campaign back in 2019 as well as millions more this year through Tesla's Reforestation Program aimed at restoring deforested areas around the world including Australia after devastating wildfires last summer.
In 2020, Musk also pledged $100 million towards a prize for the development of carbon capture technology that could help reduce global warming. Carbon capture is an important tool in combating climate change as it removes excess CO2 from the atmosphere and stores it underground or uses it to create valuable products like fuel.
He has also invested heavily in sustainable energy sources such as solar power, which he believes will be key to transitioning away from fossil fuels and reducing emissions globally. He even started his own company called SolarCity which provides solar panel installation services across America.
Additionally, Tesla recently announced they would invest over $1 billion into battery production facilities around the world with plans of producing enough batteries annually by 2022 to store 10 gigawatt-hours worth of electricity - equivalent to powering one million homes!
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