Elon Musk: The Plan to Make 2 Trillion Dollars in 10 years!

In March 2020 the then 50 year old Elon Musk was #31 on the richest people in the world list with an estimated fortune of $25 billion. On 8^th of January 2021, he topped that list with an estimated net worth of 190 billion dollars. Currently in 2022 and according to the latest updates he is worth around $245 billion. This means that in 10 months (from March 2020 to January 2021) his fortune increased 165 billion dollars which put his daily income at $550 million!

The reason behind this jump is that the value of Tesla’s stock increased by 780% during the year when most of the world was losing money due to Covid. 

Here’s an interesting tidbit you probably didn’t know, in 2008 Tesla was on the verge of bankruptcy and in fact continued losing money till 2020. 

Musk helped his competitors!

In 2014 Elon Musk did the unexpected, he made Tesla’s technology (leagues ahead of anyone else in the field of electric cars) available to his competitors. Surprised? So was everyone else. Who would offer their secrets to their competition, and to do it while losing money? Something didn’t add up. 

The real surprise came in 2020 when Tesla made a huge profit which in turn had people rushing to invest and buy Tesla stocks. As demand increased so did the stock price and thus Tesla became one of the top 5 companies worldwide when just the year before it ranked #55.

The secret behind Elon Musk’s success

In several interviews Musk stated that he works more than 100 hours per week and is convinced that if people did the same thing they would be able to accomplish in 4 months what they usually finish in a year.

How can a company lose and make a profit at the same time?

The numbers said that the company was losing money but in reality Tesla was making more profit each year than the year before. Sure, the profit was not huge by any means but Elon Musk re-invested every cent back into the company and even added to it. He was looking at the big picture, trying to decrease cost and produce as many cars as possible. 

Elon Musk’s 10 year plan

The plan is to produce 30 million electric automated taxis. Tesla is currently known as the leading authority in automated vehicles. An automated taxi is expected to cost only 50 cents/mile in contrast to Uber’s current $2/mile. The reason behind the price decrease would be the lack of drivers and because it is an electric car so the cost of gas would be removed. If Elon Musk’s plan succeeds, Tesla is estimated to make $2 trillion in the next 10 years in sales alone.