{"id":1161,"date":"2021-04-30T23:27:05","date_gmt":"2021-04-30T18:27:05","guid":{"rendered":"https:\/\/sulemanjazib.com\/?p=1161"},"modified":"2021-08-08T07:05:25","modified_gmt":"2021-08-08T02:05:25","slug":"how-elon-musk-becomes-the-worlds-richest-person-in-one-year","status":"publish","type":"post","link":"https:\/\/sulemanjazib.com\/how-elon-musk-becomes-the-worlds-richest-person-in-one-year\/","title":{"rendered":"How Elon Musk becomes the World\u2019s richest person in one year?"},"content":{"rendered":"\n

Elon Musk; the World\u2019s richest person<\/a> <\/strong>(father and founder of Tesla and SpaceX); <\/strong>is incredibly smart, extremely motivated, and willing to take big risks. But the real lessons from his success, and the success of Tesla, are the lessons any ambitious entrepreneur can learn from.<\/p>\n\n\n\n

Generally\u2026<\/strong><\/h5>\n\n\n\n
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With at least one way of defining success, Elon Musk is proving to be a huge hit: Tesla’s seven-fold increase in price shot his luck (poor punk alert) right behind Jeff Bezos. (The value of Amazon’s shares also increased, but not by as much. Additionally, Mackenzie Scott’s ex-wife acquired a 4% stake in Amazon as part of the couple’s divorce settlement. Despite Tesla<\/strong> recently making its first real profit, the automaker’s market capitalization is now larger than Toyota, Volkswagen, GM, Ford and Hyundai.<\/p>\n\n\n\n

To become rich does not need reasons<\/strong><\/h5>\n\n\n\n

So if he’s aiming for super-rich wealth, it’s not that he’s wrong at all, then a visual risk-taker like Musk could be a good role model. How can a new brand break the noise? This keeps coming back to me. But for a more fundamental reason than you might think otherwise. Think about the idea.<\/p>\n\n\n\n

Many people want to be incredibly rich. (How you define “extremely rich” is up to you, of course. My version of the super-rich could be pocket money for Sara Blakely<\/a>.<\/strong>)<\/p>\n\n\n\n

Job is unable to earn you big bags of money like Musk<\/strong><\/h5>\n\n\n\n

If one of your goals is to achieve significant wealth, there is an unavoidable truth ahead: You will not achieve very successful wealth working for someone else.<\/p>\n\n\n\n

Let’s say you want to have $ 10 million in the bank, an amount that would surely add wealth to me. It will likely never happen if you work for someone else, even if you have a good education, a path many people follow in the hope of earning a higher income.<\/p>\n\n\n\n

JOBS CANNOT MAKE YOU ABLE EARN A LIFETIME SWISS BANK ACCOUNT EARNINGS<\/u><\/p>\n\n\n\n

For instance<\/strong><\/p>\n\n\n\n

According to 2015 data from the Census Bureau (old news, but relatively new to the government), graduate students earned a median income of around $ 81,000. People with high degrees earned an average of $ 72,000; Men averaged $ 90,761 and women averaged $ 50,756.<\/p>\n\n\n\n

(Try to convince me that inequality makes sense. You can’t. No.)<\/p>\n\n\n\n

And if you’re lucky enough to double or triple those salaries, even if you manage to save $ 100,000 a year and get an average return of 7% on your money, it will take you more than 31 years to earn $ 10 Save Millions.<\/p>\n\n\n\n

This is the problem when working for someone else. If you are not the CEO of Fortune 50 and there are only a limited number of these slot machines available, you will only win a limited amount of money.<\/p>\n\n\n\n

Work for someone else won\u2019t get you super-rich<\/strong><\/h5>\n\n\n\n

Work for someone else and you can do it well. Also very good. But you probably won’t get super-rich. Do you think my opinion is wrong? Then see the details. The IRS previously published<\/a><\/strong> “The 400 Individual Tax Returns with the Most Adjusted Gross Income Each Year.”<\/p>\n\n\n\n

Here is an overview of how these people made their money:<\/p>\n\n\n\n

Wages and salaries<\/strong>: 4.4 percent<\/p>\n\n\n\n

Interest<\/strong>: 4.2 percent<\/p>\n\n\n\n

Dividends:<\/strong> 10.9 percent<\/p>\n\n\n\n

Capital goods sales<\/strong>: 65.2 percent<\/p>\n\n\n\n

Net income from companies and S Corp:<\/strong> 16.2 percent<\/p>\n\n\n\n

To bring is to bring. Wages are a small percentage of a wealthy person’s income. Like interest and dividends. And while owning one or more companies provides approximately four times more income than working for another, selling a company or part of its assets can generate excellent financial results.<\/p>\n\n\n\n

Results<\/strong><\/p>\n\n\n\n

You cannot trust the IRS. Well.<\/p>\n\n\n\n

According to a strong source – Forbes<\/strong><\/h5>\n\n\n\n

Check out the Forbes list of billionaires<\/a><\/strong>. Scroll through the list of names. Moss. Bezos. Ports. Buffett. Sugar dish. Ellison. Ballmer. Cooking. Page. Brin. They are all entrepreneurs. They have all built highly successful companies or served as their first equity partners. But it’s not just companies, companies that can scale. That’s second base.<\/p>\n\n\n\n

While Toyota sold more than 10 million cars in 2019 and Tesla only sold 368,000, one day Tesla could theoretically sell cars to everyone on the planet.<\/p>\n\n\n\n

MUSK \u2013 BEING TESLA OWNER<\/strong><\/h2>\n\n\n\n

To achieve great wealth, Musk has been unable to open a supplier for customers who convert gasoline-powered cars into electricity. Even if he opened multiple locations, scalability and economies of scale would always be an issue. (Despite relatively centralized operations, achieving economies of scale remains a top concern for Tesla.)<\/p>\n\n\n\n

Of course, there is nothing wrong with opening your own provider and surviving doing something you enjoy. If that makes you happy, great.<\/p>\n\n\n\n

If you want to get insanely rich, this is the single most important lesson you can learn from Musk’s success: Starting a successful business that scales is the only realistic way to get insanely rich.<\/p>\n\n\n\n

And because it also takes a long time to reach this level of success, although success seems to be overnight, Tesla was founded in 2003<\/strong>, now is the time to start. If yours is to try to be really rich.<\/p>\n\n\n\n

MUSK LEFT BILL BEHIND IN NOVEMBER 2021<\/strong><\/h5>\n\n\n\n

Elon Musk’s move to the top of the list is also very interesting, as he continues right behind after passing Bill Gates in November. He really fulfilled a path of “how to transfer money from my mind to bank account?<\/a><\/strong> A man who follows his dream can never let himself down.<\/p>\n\n\n\n

HIGHLIGHT<\/strong><\/h5>\n\n\n\n