Elon Musk, the world’s wealthiest man with a net worth of $250 billion, was named Time Magazine’s 2021 Person of the Year on Dec 13. Musk’s influence on modern technology is undeniable. He inspires people with his innovation, controls the stock market and his genius will be studied by future generations.
Musk’s career includes being the CEO of Tesla and SpaceX, founder of The Boring Company and X.com and the co-founder of Neuralink, OpenAI and Zip2. His diverse expertise in technology helped him get rich quickly. Tesla’s stock surpassed $1,000 after making a deal with the rental car company Hertz, instantly making Musk the first man in the world to have a net worth of $300 billion.
Tesla Motors is known for their high quality electric vehicles. Musk’s dedication to this company and the cars’ environmental impact made these cars desirable to consumers of all kinds. These vehicles also have an option to self-drive. These cars’ costs range from an average price of $45,00 for a basic Model 3 to a high price of $130,000 for a Model S Plaid.
This accessibility by way of varied prices make Tesla an attractive car brand. “We bought the Model Y, influenced by how smooth the car drives and its environmental impact. Musk’s product proves to be a top notch product,” Neema shared.
Apart from being a CEO, Musk is very active on Twitter. Many claim that his Twitter account controls the stock market and cryptocurrencies, causing them to rise and fall. Earlier this year, Musk tweeted “Gamestonk!!”and GameStop’s stock price boosted up 50%. This summer, Musk tweeted “#Bitcoin” with a broken heart emoji, and Bitcoin dropped more than 7%.
Junior Pranav Suresh follows these stock market trends very closely and explained why Musk’s Twitter account sways the market. “Elon Musk has a huge following beyond his ocean of wealth. He has over 50 million followers on Twitter, which is his main way of communication to the public. His voice has power and people probably believe what he says, even if unintentionally, because he is the richest man on Earth,” Suresh explained.
However, Suresh also believes that Musk influencing the market can have detrimental effects. “Musk’s extensive influence with his Tweets can be good if it helps stock owners, but we have seen Elon Musk use his influence to sway the market in ways that are not beneficial, such as his involvement in ‘meme stocks,’” Suresh added. The “meme stocks” that Suresh refers to are stocks like Gamestop. Musk’s involvement in GameStop made hedge funds bear tremendous losses.
Whether he is revolutionizing the automobile industry or impacting the stock market with the touch of a button, Musk’s vision involves a future run by technology.
Musk’s involvement in space exploration and futuristic technologies shows his massive investment in the future of humankind. As the CEO of SpaceX, Musk has plans for trips to Mars and beyond. As the cofounder of Neuralink, Musk is embedded in the science of connecting the brain with technology. According to Musk, his plans for Mars and Neuralink should be ready in the next decade. Musk’s innovations will help make life easier in the future.
Despite his accomplishments, many believe Musk does not deserve the title of Person of the Year. With claims that he evades taxes and underpays his workers, many feel the billionaire is undeserving of such recognition.
However, Musk is building a better future both on Earth and beyond, and his innovation ultimately outweighs his shortcomings.
