Elon Musk First in List of Richest Persons in the USA 2022

By Business Desk
September 29, 2022
Last Updated: October 22, 2022

Business & Marketing, Lifestyle

Elon Musk became first in Forbes’ list of the richest persons in the USA in 2022, breaking Jeff Bezos‘ four-year winning streak. This exchange might not have much significance in any other circumstance, but given the rivalry and hostility between the two characters, it undoubtedly signifies a significant win for one and a significant—though probably not as significant—loss for the other.

Elon Musk in first place

Elon Musk is a bad winner, to put it simply. In a way, we don’t expect Musk to do it, but the man is so unpredictable that we can really imagine him at least tweeting the image to whoever he sees as his nemesis. Forbes mentioned that when he outnumbered Bezos, Musk told them that he would send a giant statue of the number 2 to “Jeffrey B.” with a “silver medal.” Bezos is a little more subdued.

Bezos’s downfall was brought on by a 27% reduction in Amazon stock, which resulted in a 50 billion dollar loss. Given Bezos’ wealth and influence, as well as the fact that losses at other major tech businesses were comparable, this is hardly a significant loss like Mark Zuckerberg, who is in his worst period.

Additionally, Tesla continues to prevail despite Musk’s recent poor performance (mostly as a result of the issues brought on by his halted Twitter purchase that is in legal limbo) (even after possible problems were reported ). Especially when it was announced that it would begin space travel in 2024, the value of Space X has increased by fourfold in the past three years.

Due to high revenues announced during the first quarter of 2022, Tesla shares increased 11% over the previous year, according to statistics from Forbes. Therefore, it appears that Musk is not struggling as much as it might seem. continues to ascend in my mind. What is known is that the positions of first and second for the upcoming few years may alter if Amazon shares recover or if Bezos starts to grow more with Blue Origin.

Tesla shares were 11% higher when Forbes calculated net worths for the 2022 Forbes 400 list than they were for the 2021 list, in large part because the business announced record revenue and profit for the first quarter of 2022. Wedbush analysts praised the company at the time for its “‘Cinderella-like’ delivery statistics against a brutal supply chain backdrop,” but they also issued a warning that supply chain and production problems persisted, notably in China, which they called “the elephant in the room.”

Tesla deliveries fell for the first time in two years during the second quarter, postponing Musk’s receipt of the final payment of his sizable 2018 performance-based stock option bonus. This elephant has continued to rear its head. Musk, however, can afford to wait. After all, he recently received shares valued at $18.7 billion as of September 2 after unlocking three of those tranches on April 20, his favorite day of the year. It appears that Musk won’t be giving up the gold medal anytime soon.