Elon Musk’s net worth more than Pakistan GDP | Elon Musk’s earnings exceeded the GDP of the whole of Pakistan, even if he buys the whole country, he will remain a billionaire

Photo:AP

Elon Musk’s earnings exceeded the GDP of the whole of Pakistan, even if he buys the whole country, he will still be a billionaire

New Delhi: The wealth of the world’s richest man and American veteran businessman, investor and engineer Elon Musk has exceeded the entire GDP of Pakistan. According to official World Bank data, the Gross Domestic Product (GDP) in Pakistan stood at US$ 263.69 billion in 2020. The GDP value of Pakistan represents 0.23 percent of the world economy.

There has been a record jump of $36.2 billion (Rs 2.71 lakh crore) in the personal wealth of Elon Musk. Shares of the company saw a strong jump after Hertz Global Holdings placed an order for 1 lakh Tesla cars on Monday. Tesla’s stock jumped 14.9 percent to reach the level of $1045.02. With this, Tesla has become the most valuable auto company in the world.

bad condition of pakistan

The economy of Pakistan, which is moving towards destruction on every front, is going into a terrible trough, from where it is almost impossible to get out of it. The Pakistani rupee has reached its all-time low against the dollar. Along with the Pakistani economy, now its rupee is also going down continuously. According to the central bank State Bank of Pakistan of Pakistani news ARY, the Pakistani rupee on Monday hit a low of Rs 173.50 against the US dollar. On Monday, the Pakistan rupee was at the level of 172.2 against the dollar.

Pakistan needs 92 thousand crore help

Actually, Pakistan needs external help of about 9 lakh 92 thousand crore rupees (Pakistani currency) within the next two years to meet its basic needs. According to a report by The News International, Pakistan’s gross external funding needs are USD 23.6 billion in 2021-22 and USD 28 billion in 2022-23, despite very conservative estimates from the International Monetary Fund (IMF). That is, in the coming two years, Pakistan needs external funding of 51.6 billion US dollars. Pakistan is currently struggling to get $1 billion from the IMF under the third tranche of the $6 billion deal.

Musk’s wealth grew by $119 billion in 2021

Tesla is the first carmaker to join the prestigious club of trillion-dollar companies. This club includes giants like Apple Inc., Amazon.com Inc., Microsoft Corp. and Alphabet Inc.. Tesla, the maker of the world’s best-selling Model 3 sedans, is the second fastest company to enter the trillion dollar club. The company has achieved this feat in just 11 years since its listing on the stock exchanges in June 2010. Facebook Inc. achieved this feat at an even faster pace, although its market valuation is still below $1 trillion, as the company’s shares have been dominated by sell-offs for the past two months.

Musk does not get salary from Tesla

Being the CEO of Tesla, Elon Musk does not get any salary. Their salary package includes 12 options in a phased manner, which can be exercised as and when Tesla’s market valuation and financial growth achieve a milestone. On each new achievement, Musk buys Tesla shares for $70 per share, a 90 percent discount price from their current price. Last week Tesla reported a profit of $3.2 billion before interest, taxes and EBITDA, up 77 percent from last year’s profit.

!function (f, b, e, v, n, t, s) {
if (f.fbq)
return;
n = f.fbq = function () {
n.callMethod ? n.callMethod.apply(n, arguments) : n.queue.push(arguments);
};
if (!f._fbq)
f._fbq = n;
n.push = n;
n.loaded = !0;
n.version = ‘2.0’;
n.queue = [];
t = b.createElement(e);
t.async = !0;
t.src = v;
s = b.getElementsByTagName(e)[0];
s.parentNode.insertBefore(t, s);
}(window, document, ‘script’, ‘//connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘1684841475119151’);
fbq(‘track’, “PageView”); .

Leave a Comment

Your email address will not be published. Required fields are marked *