Elon Musk Is On Top List Of The World’s Richest Billionaires Today After John D.
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Elon Musk Is On Top List Of The World’s Richest Billionaires Today After John D.
Elon Musk, who is occupying the top of the list of the world’s richest billionaires today.
As of November 4, Elon Musk’s net worth has reached $ 340 billion. This is exactly the same number as what Rockefeller owns if converted to today’s market (according to CelebrityNetWorth’s calculations). This means that, in theory, if someone gave Elon Musk an extra dollar, Rockefeller’s record would officially be broken.
If you do not know, John D. Rockefeller (1839 – 1937) was a famous American business magnate. Starting out with just a few thousand dollars and several oil fields in Cleveland, Rockefeller turned Standard Oil into the world’s leading petroleum monopoly.
John D. Rockefeller
An interesting fact is that in 1911, Standard Oil was dissolved for violating antitrust laws in the United States, and many assumed that this would be the end of Rockefeller’s career. But with a quick business mind and many years of “battle” experience in the market, he has split his company into 34 separate units, including today’s powerful empires like ExxonMobil or Chevron.
A few years after the split, some of the units still maintain some of the highest levels of revenue in the world, with stock prices doubling or tripling from the beginning. As a result, the combined value of these individual units was greater than that of Standard Oil, and so Rockefeller maintained his position, with assets worth nearly the same amount as 2% of US GDP at that time.
During the last 20 years of his life, Rockefeller began to pass on his huge fortune to his children and a large charitable foundation (the Rockefeller Foundation today). Taking all of those amounts into account, his net worth is closer to $2 billion. And when we plug this number into our calculations at today’s inflation rate, we get around $25-30 billion.
Rockefeller and Standard Oil
But if you count only mechanically like that, you will not be able to understand the full picture in this story. To calculate Rockefeller’s net worth if converted to today, we have to consider many other factors, the most notable of which is the GDP of the United States.
For example, in 1935 the country’s GDP was $74 billion, and as noted above, Rockefeller’s fortune was equivalent to about 2%, or nearly $1.5 billion (not counting donations). Currently, the GDP of the United States is already close to 21 trillion dollars, and doing a basic multiplication we get close to 400 billion dollars. This is not an absolute result, not even an exact result. It just shows that converting Rockefeller’s net worth at the moment is a complicated matter, can’t be done in just
few simple calculations.
However, the number that many experts agree at the moment is $ 340 billion. Some think the real value should be higher, others calculate it a little lower, but in general, most agree that Rockefeller’s net worth at the present time is $340 billion.
Not only becoming the richest person in the world, Elon Musk also equaled Rockefeller’s record for the richest person in human history.
And Elon Musk conquered this milestone just a few days ago. To give you an idea of how rich Elon Musk is, here’s the easiest example: Jeff Bezos’ net worth ($200 billion) plus Bill Gates ($131 billion) is still 9 billion USD behind Musk. (according to CelebrityNetWorth data as of November 4). Currently, the Tesla boss’ personal wealth is greater than the market value of giants like Walt Disney, Netflix, Exxon Mobil, Nike, Toyota, Coca Cola or Chevron.
This is a memorable milestone for Elon Musk personally, and it also raises a question that many of us are probably wondering: Will the tech billionaire continue to conquer new heights? (for example, $400 billion) Or will he level out and show signs of falling in the near future? Only time can tell.
