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Elon Musk’s Net Worth is More than Greece’s GDP

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Elon Musk’s net worth is larger than Greece’s GDP. Credit: Public Domain

Elon Musk’s personal net worth is currently larger than Greece’s gross domestic product (GDP). The businessman and engineer who is currently the CEO of Tesla and SpaceX is currently worth $219.9 billion, while the nation of Greece’s GDP is $189.4 billion.

For a single individual to be worth more than any developed country is astounding, but to be worth more than contemporary Greece is no small feat.

Greece is classified by the International Monetary Fund as an advanced, high income economy, with its economy split between service (80%), industrial sectors (16%), and agriculture (4%). It is currently the sixteenth-largest economy in the European Union, which has a total of 27 members.

To put Musk’s monumental economic weight even more into perspective, Greece’s economy is also extraordinarily fast-growing, with the IMF also announcing last week that the nation’s economy is looking at a growth rate of 6.5% by the end of 2021.

The IMF detailed the country’s growth for 2021 in their global economic outlook report, where they also projected that Greece’s economy would grow by 4.6% in 2022.

The Fund predicts that the inflation rate will reach 1.3% by the end of the year and then drop down to 0.4% by 2022. They project that the unemployment rate will drop to 15.8% in 2021 and further down to 14.6% next year, both years down from 16.4% in 2020.

But the entire country of Greece seems to be outpaced by the profits Musk has made from his electric car and space exploration ventures, and some analysts are even predicting that the latter could make him the first trillionaire in history.

Elon Musk enters new era as Tesla shares close at all-time high on Friday

Musk seems to be entering the peak of his professional success with companies Tesla and SpaceX — and his personal wealth has climbed to new heights as a result. Tesla shares closed at an all time high of $909.68 on Friday, just two days after the company published its revenue and profits for Q3, which were also at a record high. Tesla’s market cap is approximately $860 billion.

The 50-year-old also took over the number one spot on the list of the world’s wealthiest people last month. Musk is the third person in history to have amassed a $200 billion fortune, according to Forbes.

While Musk has shot to the top spot in the world in private wealth largely due to his electric vehicle company Tesla, a Morgan Stanley analyst believes that the future of his aerospace company SpaceX will bring Musk across the trillion dollar threshold.

SpaceX “is challenging any preconceived notion of what was possible and the time frame possible, in terms of rockets, launch vehicles and supporting infrastructure,” Morgan Stanley’s Adam Jonas wrote on Tuesday.

Jonas has confidence in SpaceX precisely because he sees the company as holding a multitude of companies inside one, containing space exploration, infrastructure, and Earth observation, as well as its Starlink satellite communications, which Jonas sees as the biggest player towards his $200 billion valuation of the company.

 

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