Description: Elon Musk has now moved past Jeff Bezos for the number one spot on a list of the richest people in the world. With shares of Tesla climbing towards $800 each, Musk benefited enough to push him into the number one spot. Tesla’s sky-high valuation comes despite the fact that it manufactures far fewer cars than the mainline auto companies.

Date:  January 7, 2021

Source:  cbc.ca

 Link: https://www.cbc.ca/news/business/elon-musk-jeff-bezos-1.5864594

Discussion points:

1) How many names in this top ten list were you familiar with?

2) Do you see any trends or similarities in this list of names? For example, are some from the same industry?

3) In the article we read that Tesla is worth more than several of the top auto makers combined. How is this figure of market capitalization calculated? (See page 11-7 of Wiley’s Financial Accounting: Tools for Business Decision-Making).